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Largest Chinese Residential Developer Defaults On Massive Debt

Largest Chinese Residential Developer Defaults On Massive Debt

Sebastian Hughes  A major credit ratings firm declared that real estate giant China Evergrande was in default on Thursday, creating the potential for the communist country’s financial system to take a significant hit, The New York Times reported. The firm, Fitch Ratings, said it placed Evergrande under its “restricted default” designation, which means that it […]