Evergrande’s debt crisis: International creditors threaten legal action over ‘opaque’ restructuring process

A group of the company’s overseas bondholders are threatening to take legal action over its “opaque” debt restructuring process, the latest sign of trouble for the embattled Chinese developer. They said in a statement Thursday they’ve had to “seriously consider enforcement actions” after Evergrande failed to engage substantially with them […]

Evergrande has defaulted on its debt, Fitch Ratings says

The credit ratings agency on Thursday downgraded the company and its subsidiaries to “restricted default,” meaning that the firm has failed to meet its financial obligations. Fitch said the downgrade reflects the company’s inability to pay interest due earlier this week on two dollar-denominated bonds. The payments were due a […]