Press "Enter" to skip to content

China sees first dollar bond default in 2020, to trigger cross-defaults

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

China's state-owned Qinghai Provincial Investment Group (QPIG), an aluminum maker with a history of delayed debt payments, was downgraded by S&P Global Ratings after it missed semi-annual coupon payment, the first Chinese company to default on dollar bonds this year.

QPIG failed to pay $9.6 million in interest due on a $300 million bond last Friday. On Tuesday, S&P said it had lowered the credit rating of QPIG and . . .

To continue reading, please subscribe. You will get

 

  • IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
  • THE WIRE  - up-to-the-minute updates of market-moving news and views. We want you to be the first to know it when something important happens.
  • DETAILS - We bring you details that you won't find elsewhere. General information is everywhere, but information with details and relevant to your investment is rare. 

 

FREE TRIAL cancel anytime

 

We highly value independence. We are solely funded by subscriptions from intelligent readers like you. 

Already have an account? Sign In

Top