Amid the Evergrande crisis, more Chinese developers are facing defaults, as ratings agencies dished out a fresh round of downgrades.
China's property developers have grown rapidly following years of excessive debt, prompting authorities to roll out the "three red lines" policy last year. That policy places a limit on debt in relation to a firm's cash flows, assets and capital levels.
It has since missed three interest payments for its U.S.-dollar bonds. The stock has been suspended since Oct. 4, andTrading of Chinese real estate bonds spiked to over $1 billion so far in October, from over $600 million in August, according to data from electronic fixed income trading platform MarketAxess. Evergrande's 8.75% bond maturing in 2025 is currently the second-highest most traded emerging market bond on its platform, it said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
'Ghost towns': Evergrande crisis shines a light on China's millions of empty homesEvergrande's unraveling is still commanding global attention, but its troubles are part of a much bigger problem.
Consulte Mais informação »
'RHOSLC' Star Jen Shah Hosting Strip Club Event as Fraud Trial Looms'RHOSLC' star Jen Shah's hosting a strip club event as her fraud trial looms.
Consulte Mais informação »
Another upward force on American inflation: the housing boomProperty could join energy, shipping, used cars and wages as a contributor to rising consumer prices
Consulte Mais informação »
Space is the place to be if you're looking for the most revolutionary stocksOPINION: I’ve tried to figure out the best, safest and most revolutionary ways to invest for the long term. Here are my favorite stocks for the Space Revolution right now.
Consulte Mais informação »
Banks Promised to Cut Funding for Arctic Oil Drilling. Money Flowed Anyway.Some investors say banks’ pledges on cutting funding for Arctic oil drilling contain loopholes
Consulte Mais informação »
MemeMarkets: The SEC report on January's meme stock short squeeze is coming soonWhat do Gary Gensler and his team have in store for Robinhood, Citadel and retail investors?
Consulte Mais informação »