by bondevalue | Apr 15, 2021 | China, High Yield Bonds
Distressed asset manager China Huarong Asset Management Company (CHAMC) saw some of its dollar bonds plummet to new lows, dominating the top losers list on Wednesday. The acceleration in the sell-off now sees most of their bonds trading in the 60s from around par a...
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...
