by Amruth Sundarkumar | Apr 8, 2022 | China, Credit Ratings, High Yield Bonds
Times China was downgraded to B2 from B1 by Moody’s on the back of weakening liquidity and declining operating cash flow. This is due to declining contracted sales which Moody’s expects to fall by 35-40% in 2022 and again in 2023. Besides, constrained...
by Amruth Sundarkumar | Jan 27, 2022 | China, High Yield Bonds
China South City’s (CSC) dollar bonds jumped over 7% after it obtained consent to extend the maturity of its $348mn 11.5% bonds due February 12, 2022 and $346mn 10.875% bonds due June 26, 2022. CSC obtained consent to extend the maturities to August 12, 2022 and...
by Amruth Sundarkumar | Oct 7, 2021 | China, High Yield Bonds
As the turmoil in Chinese property developers’ dollar bonds unfolds, some developers bought back small quantities of their dollar bonds in a bid to lend confidence to investors. Central China Real Estate (CCRE) repurchased $13.9mn in principal of three of its...
