10/13/2021- 3:32 p.m.
Chinese property contagion: firms begin to buckle amid Evergrande cash flow crisis (Report)
Evergrande’s ongoing crisis has skyrocketed debt market risk premiums on weaker Chinese firms – triggering a new round of credit rating downgrades. (Reuters)
The company missed a third round of interest payments on its international bonds this week, sparking concerns other firms could also default.
Evergrande, which has over $300 billion in liabilities, failed to pay nearly $150 million worth of coupons on three bonds due on Monday – following two other missed payments in September.
