Economics & Finance

Evergrande Group declared its default on dollar debt

by RT via Azerbaycan24

The China Evergrande Group has been declared in default on its dollar debt by Fitch Ratings. Evergrande is the second largest residential real estate company in China, with more than 1,300 projects in 280 cities.

The US-based rating agency cut the developer’s rating to Restricted Default due to non-payment of US$1.2 billion in bond repayments within the grace period, which expired on Monday.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button