Chinese distressed asset manager Huarong’s bonds tumble as investors concerned about outlook
Chinese distressed asset manager Huarong’s bonds tumble as investors concerned about outlook

Chinese distressed asset manager Huarong’s bonds tumble as investors concerned about outlook

 

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Huarong Asset Management Company, one of China’s five national distressed asset managers, saw its bonds tumble in recent weeks as the outlook of a major restructuring is spooking investors.

Huarong's dollar bonds have plunged in recent weeks after the asset manager warned that it would not report its results on time due to a “relevant transaction,” the details of which have not been disclosed publicly. Its Hong Kong-listed shares have been suspended since April 1.

The uncertainty over the transaction has promoted three top global credit rating agencies to put Huarong’s . . .

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