Another Major Chinese Property Developer Is In Trouble – HotAir
First it was Evergrande, then it was Country Garden, now China’s #2 property developer by sales volume is in trouble. On Monday, Vanke’s was downgraded to junk status by Moody’s. Moody’s said on Monday it withdrew Vanke’s ‘Baa3’ rating which is the lowest of Moody’s investment grade ratings, and assigned ‘Ba1’ corporate family rating (CFR). […]