Agile and KWG Downgraded to B- by S&P
Agile was downgraded to B- from B+ after the delay in publishing its audited 2021 results, indicating weak reporting, governance, and risk management. A potential acceleration of debt payments could occur, further weakening its liquidity. As per its 2021 interim...
KWG Downgraded to B2 from B1 by Moody’s; Shimao Cut to CCC from B- by Fitch
KWG Group was downgraded to B2 from B1 by Moody’s on the back of weakening contracted sales and heightened refinancing risks ahead of sizeable debt maturities. Contracted sales are expected to fall 10-15% over the next two years. KWG has around $900mn of...
KWG Downgraded to B+ by Fitch
KWG Group was downgraded to B+ from BB- by Fitch with a negative outlook on the back of “decreasing financial flexibility amid high capital-market volatility”. KWG has onshore and offshore capital market debt totaling RMB 16bn ($2.5bn) through September...
