by bondevalue | Mar 11, 2021 | China, Credit Ratings, Distressed / Defaulted Bonds
Chongqing Energy’s issuer default rating has been downgraded by a massive 13 notches to Restricted Default (RD) from BBB by Fitch Ratings. While the older BBB rating is two notches into investment grade territory, indicating that expectations of default risk are...
by bondevalue | Mar 10, 2021 | Distressed / Defaulted Bonds
Chongqing Energy Investment Group has confirmed through a filing that it has not paid some of its onshore loans as it is facing short-term liquidity issues as per IFR. The bonds of the company had taken a hit after the news came out on March 2 that the company...
by bondevalue | Mar 4, 2021 | China, Distressed / Defaulted Bonds
Risks around Chinese state-owned enterprises (SOEs) have once again made headlines. Yunnan Energy’s bonds sold-off after Fitch withdrew its ratings and more recently, Chongqing Energy Investment Co failed to repay CNY 915mn ($142mn) of local debt in the beginning of...
