Forex Top Team

S & P decides China Evergrande as default. Default of interest payment of dollar-denominated bonds

On the 17th, major rating agency S & P Global has determined that China’s real estate developer, Evergrande Group of China, has officially defaulted (default).

“We consider the Evergrande Group of China and Tianqi Holding of the offshore financial sector to have failed to pay interest on US dollar-denominated senior bonds,” S & P said in a statement.

After lowering the rating to “partial default (SD)”, it was revealed that there was a request from China Evergrande to withdraw the rating.

“Evergrande, Tenki, and the trustee have not announced or confirmed the status of interest payments with us.”

(Source: Reuters)

In response to this request, S & P seems to have withdrawn the downgrade to the Chinese Evergrande rating “SD”, but it is unlikely that there will be a reversal of rebirth.

The dollar-yen pair has continued to fall due to the risk-off trend from yesterday to today, but it is assumed that the US-China conflict will be affected by the evergrande of China.

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