Moody’s says liquidity stress will persist for Chinese property developers

Ratings agency Moody’s on Chinese property developers

  • liquidity stress will
    continue amid tight credit conditions and lowered sales
  • more developers will meet the three red
    lines requirement as debt growth declines
  • limited funding
    access, slowing contracted sales, weakened controls over project-level
    cash dampening cash flow
  • refinancing risk for developers, particularly financially weak ones with material near-term debt maturities, will remain high in China 

Meanwhile, Evergrande says a unit has restarted work on 63 home building projects in Guangdong.

Earlier on China:

Ratings agency Moody's on Chinese property developers

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