Chinese developer RiseSun’s unit RongXingDa Development (BVI) Ltd., filed a Chapter 15 petition in the US for recognition of a foreign proceeding, according to a Monday court filing in the Southern District of New York, as per Bloomberg. RiseSun said, “The...
Adding the the list of negative rating actions among Chinese property developers, China Aoyuan and RiseSun were downgraded by S&P and Moody’s respectively. China Aoyuan was downgraded to B from B+ due to ‘elevated leverage’ and tight liquidity...