Default. Fitch Ratings officially declared massive Chinese property developer Evergrande in default on Thursday. The company, which failed to make payments on its debt by the end of the grace period on Monday, was placed in the “restricted default” category, meaning it has not yet entered bankruptcy, liquidation or another kind of process that would […]
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Daily Memo: Evergrande Declared in Default, Saudi Crown Prince in Qatar
Speculation has grown for weeks that the Chinese property giant would be unable to meet its scheduled payments.
