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Debt-crippled Chinese property giant Evergande has defaulted for the first time, Fitch Ratings agency said on December 9, as authorities scrambled to avoid contagion throughout the economy.
China s debt-crippled property giant Evergrande defaults: Fitch kuwaittimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.net Daily Mail and Mail on Sunday newspapers.
Debt-crippled Chinese property giant Evergande has defaulted for the first time, Fitch Ratings agency said Thursday, as authorities scrambled to avoid contagion
Evergrande, which ran into trouble after the Chinese government launched a crackdown on rampant borrowing in the real estate sector earlier this year, has defaulted on $1.2bn of bond debt.