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<CN Home>Fitch Downgrades CHINA VANKE to 'B-' w/ Rating Watch Negative
Recommend 2 Positive 7 Negative 8 |
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Fitch Ratings has downgraded Chinese developer CHINA VANKE (02202.HK)'s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to 'B-', from 'B+'. Fitch has also downgraded the Long-Term IDR/ senior unsecured rating/ rating on the outstanding senior notes of CHINA VANKE's wholly-owned subsidiary, Vanke Real Estate Hong Kong, to 'CCC+' from 'B', with a Recovery Rating of RR4. The ratings are on Rating Watch Negative (RWN). The downgrade reflects a deterioration in CHINA VANKE's sales and cash generation, which is eroding its liquidity buffer against large capital market debt maturities in 2025. AAStocks Financial News |
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