Several Chinese developers request rating withdrawals “to prevent risks”

chinese property developer

THE WIRE - Up-to-the-minute news updates walk you through every trading day!

The top three global credit rating agencies - Moody's Investors Service, S&P's Global Ratings and Fitch Ratings have lowered ratings of several Chinese property developers as homebuilders struggles in a sector-wide liquidity crunch.

That has led to several developers to request rating withdrawal in a move to "prevent risks as a rating downgrade sometimes trigger acceleration of repayment of a company's other offshore debts.

SIGN IN  OR SUBSCRIBE TO GET FULL ACCESS. 

Stop Googling for China market information. Yuan Talks put all market-moving news in one place. You will never again be left in the dark when market moves. Start your FIVE-DAY FREE TRIAL today!

 

Try For Free

Cancel anytime before the free trial ends and you won't be charged.