by bondevalue | Apr 14, 2021 | Financial News
China Huarong Asset Management Company (CHAMC) saw its dollar bonds sell-off over 15-20% yesterday. Concerns about restructuring continues to worry investors with the delay in publishing its results while global major ratings agencies have put the distressed asset...
by bondevalue | Apr 12, 2021 | China, Investment Grade Bonds
S&P Ratings affirmed China Huarong Asset Management Company (CHAMC) and its subsidiaries at BBB+ but placed it on CreditWatch negative from stable on the back of uncertainty due to its delayed results. S&P noted that downgrade pressures could accumulate if...
by bondevalue | Apr 9, 2021 | China, High Yield Bonds
China Huarong Asset Management is planning to offload non-core and loss-making units to revive profitability and avoid the need for financial restructuring or government bail-out. Bloomberg sources say that Huarong is determining the value of its stakes in some...
by bondevalue | Apr 8, 2021 | China, Investment Grade Bonds
Research firm CreditSights said that China Huarong may see short-term pain from financial restructuring while it is a longer-term credit positive. A restructuring would ‘eventually put Huarong on firmer footing and allow it to shed riskier assets’ the analysts wrote...
by bondevalue | Apr 7, 2021 | China, Investment Grade Bonds
Tuesday marked another grim day for China Huarong’s dollar bonds as investors continued to sell amid reports of a financial restructuring coming up at one of China’s largest asset managers. As per Bloomberg, the company had submitted “financial...
