and S&P downgraded Chinese developers’ ratings 43, 54 and 30 times, respectively, in 2021, compared with six, 12 and 11 in 2020, adding further pressure on their ability to refinance offshore debt during a housing slowdown.
A Financial Times data analysis of the biggest borrowers shows that while riskier developers were subjected to significant downgrades in the past year, the ratings of investment-grade companies were largely unchanged.Buoyed by China’s rapid urbanisation, the country’s real estate developers are large borrowers domestically and overseas, and inthey make up a big portion of the region’s $400 billion corporate high-yield bond market.
IrishTimes The Chinese Communist party property market is going to collapse as this 100 times worse than this corrupt government is telling the world