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<CN Home>Moody's Downgrades CHINA VANKE Corporate Family Rating to Ca
Recommend 3 Positive 2 Negative 5 |
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Rating agency Moody's issued a report downgrading the corporate family rating (CFR) of CHINA VANKE (02202.HK)/ backed senior unsecured rating on the medium-term note (MTN) program of Vanke Real Estate (Hong Kong)/ backed senior unsecured rating on the bonds issued by Vanke Real Estate (Hong Kong) from Caa2/ (P)Caa3/ Caa3 to Ca/ (P)C/ C, with all outlook remaining negative. The rating downgrade with a negative outlook reflects CHINA VANKE's weak liquidity following its missed payments, Moody's added. Although majority bondholders agreed to extend the grace period to 30 trading days, the missed payments indicates the Company's constrained financial flexibility to meet its near-term debt obligations. AASTOCKS Financial News Website: www.aastocks.com |
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