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Country Garden becomes 'fallen angel' with downgrade to junk

The Straits Times LogoThe Straits Times1w ago

Country Garden becomes 'fallen angel' with downgrade to junk

Quick Summary

June 23, 2022 12:35 PMHONG KONG (BLOOMBERG) - Moody's Investors Service lowered Country Garden Holdings from investment-grade territory, the latest sign of how sentiment has soured for private-sector Chinese developers during the industry's cash crunch and sales slump.

It's Country Garden's second junk-level rating from major international credit assessors.

Unfinished apartment buildings developed by Country Garden Holdings in Shanghai, on Jan 17, 2022.


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Article Details

Category: Economy

Topics: Firm Country Ratings Notes Sales Garden Investors Investment-grade Access Company China

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 12:35:02

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Reading Time: 3 minutes read

Article Length: 531 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 5350

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About The Straits Times

The Straits Times Logo

Main Topics: Economy

Official Website: straitstimes.com

Update Frequency: 7 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 11h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #25

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