Fitch Ratings: Evergrande In “Restricted Default” After Failing To Pay
Credit rating agency Fitch Ratings has downgraded fallen real estate developer China Evergrande Group (HKG:3333) to “restricted default” after it failed to meet its financial obligations. Analysts have been warning that the default could ignite a property market crisis in the Asian giant. Q3 2021 hedge fund letters, conferences and more Evergrande's DefaultAs reported by CNN, Fitch Ratings has downgraded Evergrande has defaulted on its debt as the company’s month-long due payments went unannounced once the grace period expired Monday. According to the news outlet, “Fitch said the downgrade ref...