Evergrande Suspends Bond Trading After Latest Downgrade

Evergrande Suspends Bond Trading After Latest Downgrade
The China Evergrande Centre is seen in Hong Kong, China on Aug. 25, 2021. REUTERS/Tyrone Siu
Updated:

Cash-strapped Chinese developer Evergrande Group has applied for a suspension of trade of its onshore corporate bonds on Sept. 16, following a ratings downgrade a day earlier.

Hengda Real Estate Group, the property service provider and a subsidiary of Evergrande, found on Wednesday that its bonds’ ratings had been downgraded from AA to “A.”

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