China's CEFC Shanghai International downgraded after its bond trade is suspended
Key Chinese credit ratings agency pushes company's long-term issuer rating from AAA to AA+
Shanghai
A MAJOR Chinese credit ratings agency downgraded CEFC Shanghai International Group on Friday, a day after the company suspended trading in its bonds on the back of media reports of a probe into the chairman of its parent company.
China Lianhe Credit Rating Co. said in a statement that it had downgraded CEFC Shanghai International's long-term issuer rating one notch from AAA to AA+, and would be placing the company on a watchlist.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Sheng Siong Q1 net profit up 9.3% on higher revenue
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
S&P Global first-quarter profit beats estimates on strong product demand
Malaysia mulls over plans for casino in Forest City as part of Johor-S’pore Special Economic Zone: sources