E-House May Default on Dollar Bond Due Today; COGARD Testing Local Bond Issuance
China’s E-House may have insufficient funds to repay its $298.2mn 7.625% dollar bonds maturing today (April 18), as per an exchange filing. The developer notes that it continues to explore ways to secure the funds. As per the bond’s conditions, a default...
E-House Cut to CCC by S&P on Repayment Pressure
E-House was cut to CCC from B by S&P with a negative outlook. The downgrade comes on the back of high repayment pressure for its $300mn bonds due April 2022 and beyond amid deteriorating liquidity. While S&P noted that “it is not entirely impossible for...
E-House Downgraded to To B by S&P On Tough Operating Conditions And Tightening Liquidity
Chinese real estate services company, E-House (China) Enterprise Holdings Ltd has been downgraded to B from B+ by S&P over tough operating conditions and tightening liquidity. S&P concurrently cut its long-term rating on its dollar bonds to B from B+. The...
