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companies lost their credit ratings on Fri Feb 23 at Moody’s Investors Service, which withdrew the scores in an unusual flurry that underscores fallout from record defaults.
The action kicked off in the early afternoon with one of the country’s major bad-debt managers, China Great Wall Asset Management. The credit assessor removed its Baa3 score, which was one step away from junk territory and had been on review for a cut. Moody’s offered little detailed explanation, only citing “business reasons.”
That remained the only explanation later in the day when Moody’s went on to withdraw scores from 10 developers, including including Logan Group, Ronshine China Holdings and Zhenro Properties Group. All of the builders have previously defaulted, and with global investors demanding prohibitively expensive yields have effectively been shut out of international debt markets.
bnnbloomberg.ca/flurry-of-chin
companies lost their credit ratings on Fri Feb 23 at Moody’s Investors Service, which withdrew the scores in an unusual flurry that underscores fallout from record defaults.
The action kicked off in the early afternoon with one of the country’s major bad-debt managers, China Great Wall Asset Management. The credit assessor removed its Baa3 score, which was one step away from junk territory and had been on review for a cut. Moody’s offered little detailed explanation, only citing “business reasons.”
That remained the only explanation later in the day when Moody’s went on to withdraw scores from 10 developers, including including Logan Group, Ronshine China Holdings and Zhenro Properties Group. All of the builders have previously defaulted, and with global investors demanding prohibitively expensive yields have effectively been shut out of international debt markets.
bnnbloomberg.ca/flurry-of-chinポストを翻訳
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