by Amruth Sundarkumar | Oct 12, 2022 | Distressed / Defaulted Bonds, High Yield Bonds
China SCE has sought to reassure investors after reports of missed payments on RMB 1.6bn ($223mn) of its local trust products by saying that the investment was backed by sufficient valuable assets. The trust product was used to finance the construction of a...
by Amruth Sundarkumar | Feb 16, 2022 | China, High Yield Bonds
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...
by Amruth Sundarkumar | Oct 18, 2021 | China, Credit Ratings, High Yield Bonds
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...
