Hints and tips:
...to c.$1.2bn....
...Rating agency S&P downgraded the company three notches on Thursday to triple C on “non-payment risk” and estimated it had only $200mn, or half the required funds, currently available....
...S&P Global Ratings downgraded Evergrande this month to triple C, deeper into speculative grade territory, as it noted a recent rise in contractor disputes....
...Similar low-cost Covid policies offered by Alibaba- and Tencent-backed ZhongAn Online P&C Insurance and midsized Yong An Insurance have also been removed from current product offerings....
...The ecommerce company tops this year’s FT ranking of high-growth companies in Asia Pacific, compiled by research company Statista....
...In US equity ESG funds, Apple and Microsoft are the top dogs, but both underperformed the S&P 500 in 2022. Tesla, another ESG darling, shed almost two-thirds of its value in 2022....
...One of them, the federally owned Trans Mountain expansion to Canada’s Pacific coast, is due by next year after a surge in construction costs....
...S&P downgraded its ratings on Evergrande’s bonds from B plus in January to double C by September, before they were removed at the request of the company last week....
...In its final report on Oceanwide early last year, S&P lowered its rating to triple C and warned of the “rising repayment risk of Oceanwide’s near-term debt maturities”....
...S&P lowered its rating of the company, which has $88m in coupon payments due by Friday, to triple C minus, saying it “may not be able to service its debt in time” and pointing to a potential debt restructuring...
...The rating agency Fitch assigned a low assessment of triple C minus to the bonds, just one notch above default....
...S&P on Friday downgraded residential developer China Aoyuan because the rating agency expected “its deleveraging pace to slow amid a tough operating environment”....
...Fitch on Wednesday became the latest group to issue a warning, slashing Evergrande’s foreign currency credit rating from triple C plus to double C and saying that a default of some kind “appears probable...
...Fantasia was last week downgraded to triple C by S&P, which noted “heightened execution risk on repayment” in relation to the bond due on Monday....
...S&P estimates Rmb100bn ($15.4bn) of them come due this year....
...S&P Global Ratings cut the company’s rating by two notches to triple C this month....
...Late on Thursday, S&P Global Ratings downgraded Evergrande for the second time in weeks to triple C minus, deeper into speculative grade, and said that the developer’s liquidity position was “eroding more...
...S&P Global Ratings the same month downgraded the company’s credit rating to triple C, deeper into speculative territory....
...Shares of digital insurer ZhongAn Online P&C Insurance more than doubled in the three months to a February peak, until crackdowns on tech dented investor sentiment....
...But the overall combined ratio for the P&C business — claims and expenses as a proportion of income — came in at 95.2 per cent, a 1.3 percentage point year-on-year improvement....
...TCI is also the largest shareholder in CP, with an 8.4 per cent stake worth $4.3bn, according to S&P Capital IQ....
...But C. Raja Mohan of the National University of Singapore said India can calibrate its co-operation since it was not a US treaty ally, like Australia and Japan. “India can set the pace . . ....
...It’s also one of the only places to still enjoy p’tcha (jellied calves’ feet), but interested parties should call in advance to confirm availability....
...S&P Global, one of the big three rating agencies, considers triple C issuers to be “vulnerable”, and dependent on “favourable” conditions to keep paying their debts....
...I’ve seen my pay drop c. £20k and will no doubt pay a load more tax in the coming years to pay this off. I don’t want to get back to normal, but I want some freedom to live as well....
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