11 Mar China Vanke debt downgraded to ‘junk’ status by Moody’s as liquidity concerns mount amid tumbling property sales
Posted at 14:32h
in Asia
International ratings agency Moody’s has stripped state-backed property giant China Vanke of its investment-grade credit rating amid concerns over its liquidity and ability to access funding amid declining sales.Moody’s Ratings withdrew China Vanke’s “Baa3” issuer rating, replacing it with a “Ba1” corporate family rating, which...