(Recasts, adds bond prices and investor and analyst comment)
SHANGHAI, April 15 (Reuters) - Chinese corporate dollar bond issuers are facing rising financing pressure after asset management giant China Huarong Asset Management Co delayed the release of its annual results, prompting broader concerns over issuers’ creditworthiness.
Investors are concerned that any debt restructuring by the company, which counts China’s Ministry of Finance as its biggest shareholder, could leave holders of its U.S. dollar bonds unprotected and force an expensive reassessment of long-standing government support for Chinese state-owned issuers.
Huarong, a manager of non-performing loans set up by the government two decades ago and one of China’s four biggest asset management companies (AMCs), has had its Hong Kong shares suspended since March 31 after it announced a delay in its earnings report due to a “relevant transaction” yet to be finalised.