Fitch has downgraded Russia’s sovereign bonds by six notches to “C” from “B”, saying that a debt default is “imminent”. The rating agency had already slashed Russia’s rating to a “junk” status of “B” on March 2, but said that …
A Chinese court has ordered the freezing of US $101 million in assets held by a subsidiary of property developer China Evergrande Group due to missed payments for construction work, according to a filing by contractor Shanghai Construction Group. State-owned …
Fitch Ratings announced on Thursday that it downgraded China Evergrande Group and its subsidiaries to “restricted default” after the heavily indebted developer had missed an important interest payment this week. Evergrande, whose debts exceed $300 billion, missed a deadline on …
China Evergrande Group had signaled that it is already planning to negotiate a debt restructuring with offshore creditors as it faces another potential default on Monday. Evergrande said in a filing on Friday that it plans to “actively engage with …
U.S. stock markets tumbled yesterday following news that Bill Hwang’s Archegos Capital Management was liquidating $30 billion in assets to cover a margin call that went south. The large sell-off was triggered by Archegos’ positions in something called a contract-for-difference, …
Germany’s coalition government has decided to take on high public debt in its 2021 budget to battle against the economic impacts of the COVID-19 pandemic.
Malaysia’s AirAsia X Bhd is planning to revise its $15.3 billion debt restructuring plan in order to address concerns raised by a creditor as the company’s cash is running out fast.