Nine bonds of Evergrande’s flagship go on restricted trading after ratings cut in latest woe to befall indebted developer

Trading restrictions were placed on nine onshore bonds sold by China Evergrande Group’s flagship property unit, after a local credit rating agency slashed the debts’ creditworthiness, deepening the woes for the world’s most indebted real estate developer.Three yuan-denominated bonds valued at 28.2 billion yuan (US$4.4 billion) issued by Evergrande’s Hengda Real Estate Group unit were restricted to negotiated transactions on the Shanghai Stock Exchange, according to a statement. On the stock…

Nine bonds of Evergrande’s flagship go on restricted trading after ratings cut in latest woe to befall indebted developer
Trading restrictions were placed on nine onshore bonds sold by China Evergrande Group’s flagship property unit, after a local credit rating agency slashed the debts’ creditworthiness, deepening the woes for the world’s most indebted real estate developer.Three yuan-denominated bonds valued at 28.2 billion yuan (US$4.4 billion) issued by Evergrande’s Hengda Real Estate Group unit were restricted to negotiated transactions on the Shanghai Stock Exchange, according to a statement. On the stock…