Xinyuan Real Estate Co. Ltd. - ADR

:XIN   3:52:18 PM EDT
1.16
+0.04 (+3.57%)
Debt Financing / Related, Debt Ratings

Fitch Downgrades Xinyuan Real Estate Co Ltd To 'C' On Distressed Debt Exchange

Published: 10/08/2021 11:02 GMT
Xinyuan Real Estate Co. Ltd. - ADR (XIN) - Fitch Downgrades Xinyuan to 'c' on Distressed Debt Exchange.
Fitch Says Downgraded Xinyuan Real Estate Co.
, Ltd.
's Long-term Issuer Default Rating (idr) to 'c' From 'ccc'.
Fitch Says Downgraded Xinyuan Real Estate Rating on Outstanding Bonds to 'c' With a Recovery Rating of 'rr5' From 'ccc' With a Recovery Rating of 'rr4'.
Fitch Says to Re-rate Xinyuan's Idrs to Level Consistent With Post-exchange Capital Structure, Which Would Likely Be Within Low Speculative-grade Range.