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S&P Downgrades CHINA VANKE's Long-Term Ratings to 'CCC-'; Ratings Placed on CreditWatch Negative
Recommend 2 Positive 3 Negative 1 |
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Rating agency S&P has placed CHINA VANKE (02202.HK) on CreditWatch with negative implications and downgraded its long-term issuer credit ratings from "CCC" to "CCC-". From S&P's perspective, CHINA VANKE's liquidity constraints may make it difficult for the company to fulfill financial commitments, posing risks of nonpayment or restructuring. Given that CHINA VANKE's available cash reserves as of the end of September were weak, it is also likely that the company will experience negative operating cash flow. AAStocks Financial News |
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