by Amruth Sundarkumar | Mar 23, 2023 | China, Credit Ratings, High Yield Bonds
Dollar bonds of China Huarong AMC fell by ~1 point after Moody’s placed its Baa2 ratings under review for downgrade. This comes after the company warned of a loss of RMB 27.6bn ($4bn) for 2022 citing erosion in fair values of some of its equity assets and credit...
by Amruth Sundarkumar | Aug 23, 2022 | China, Corporates
China Huarong’s dollar bonds filled the losers list yesterday after the bad-debt manager was placed on review for a downgrade by Moody’s. The rating action was taken in response to Huarong’s $2.8bn loss warning last week for 1H 2022 where it said...
by bondevalue | May 18, 2021 | Asian Dollar Bonds
China Huarong Asset Management Co. is said to have closed funding arrangements with China’s state-owned lenders to repay debts due through “at least the end of August”, as per people familiar with the matter reported by Bloomberg. The sources added...
by bondevalue | Apr 28, 2021 | China, High Yield Bonds
Chinese state-owned banking major Industrial & Commercial Bank of China’s (ICBC) Singapore branch came to the rescue of distressed asset manager China Huarong Asset Management Co. with the former granting a S$600mn ($452mn) loan to the latter to repay its...
by bondevalue | Apr 26, 2021 | China, Investment Grade Bonds
China Huarong Asset Management Co. announced that it will be further delaying the release of its annual earnings beyond the April 30 deadline. The company released a statement on Chinamoney.com, which is run by China Foreign Exchange Trade System that stated,...
