"The firm has lost the capacity to sell new homes, which means its main business model is effectively defunct. This makes full repayment of its debts unlikely," S&P Global said in a report.
(Reporting by Clare Jim; Editing by Jane Merriman)
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
0.163 HKD | -20.87% | -.--% | -30.64% |
Apr. 11 | Ping An Trust delays repayment, citing China property market woes | RE |
Apr. 08 | China property developer Shimao faces liquidation petition from state-owned bank | RE |
HONG KONG (Reuters) - S&P Global Ratings said on Thursday a default is still "highly likely" for China Evergrande Group despite its recent bond coupon payments because it has a bigger test in March and April next year, facing a total of $3.5 billion maturities in dollar bonds.
"The firm has lost the capacity to sell new homes, which means its main business model is effectively defunct. This makes full repayment of its debts unlikely," S&P Global said in a report.
(Reporting by Clare Jim; Editing by Jane Merriman)
1st Jan change | Capi. | |
---|---|---|
-30.64% | 275M | |
-11.18% | 22.47B | |
+10.07% | 11.01B | |
-37.48% | 9.82B | |
-29.41% | 7.31B | |
-6.02% | 6.88B | |
-6.25% | 6B | |
-6.73% | 5.99B | |
-4.97% | 3.62B | |
+10.81% | 3.53B |