Chinese real estate firm Evergrande, which is in financial trouble, reports that one of its subsidiaries has been sentenced to pay 7.3 billion yuan ($1.08 billion) in damages for breaching … Read more
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 … Read more
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. … Read more
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 … Read more
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 … Read more
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.