Evergrande DEFAULT confirmed
- Thread starter easymon1
- Start date
What's fake about it?
Evergrande has not defaulted yet. You are posting old news dated November 10 that spreads the lie it would already have defaulted.
IMO, you are by this your irresponsible action a market manipulator and should be prosecuted by SEC or a similar body.
Your beef is with Yahoo, pal. Prove to them why they need to retract the story and straighten up their act.
Evergrande has defaulted on its debt, Fitch Ratings says
Hong Kong (CNN Business)Evergrande, the embattled Chinese property developer, has defaulted on its debt, according to Fitch Ratings.
The credit ratings agency on Thursday downgraded the company and its subsidiaries to "restricted default," meaning that the firm has failed to meet its financial obligations.
Fitch said the downgrade reflects the company's inability to pay interest due earlier this week on two dollar-denominated bonds. The payments were due a month ago, and grace periods lapsed Monday.
Fitch noted that Evergrande made no announcement about the payments, nor did it respond to inquiries from the ratings agency. "We are therefore assuming they were not paid," Fitch said.
Hong Kong (CNN Business)Evergrande, the embattled Chinese property developer, has defaulted on its debt, according to Fitch Ratings.
The credit ratings agency on Thursday downgraded the company and its subsidiaries to "restricted default," meaning that the firm has failed to meet its financial obligations.
Fitch said the downgrade reflects the company's inability to pay interest due earlier this week on two dollar-denominated bonds. The payments were due a month ago, and grace periods lapsed Monday.
Fitch noted that Evergrande made no announcement about the payments, nor did it respond to inquiries from the ratings agency. "We are therefore assuming they were not paid," Fitch said.
Particularly problematic for Evergrande: all 23 outstanding bonds have a cross-default clause. "This means that if a single one of these bonds defaults, all 23 outstanding bonds automatically have 'default' status"
Already in october Evergrande did not pay 128 million. So at that moment all outstanding bonds defaulted.
Already in october Evergrande did not pay 128 million. So at that moment all outstanding bonds defaulted.
Are they defaulting on the dollar denominated bonds first?
ZH says Evergrande has finally defaulted
As Bloomberg notes, barring a last-minute shock, holders of $19.2 billion in Evergrande dollar notes face deep haircuts as the company overhauls its mammoth balance sheet without a government bailout - a process that promises to be long, contentious and potentially risky for Asia’s largest economy.
Gee, just in time for the Fed tightening cycle, which will make buying homes/property here at home more expensive. The fun never ends. Time to long the shit out of banks.