China Huarong bonds slump on Fitch downgrade; maturing bond repaid

SHANGHAI — Offshore bonds issued by subsidiaries of Chinese state-owned bad loan giant China Huarong Asset Management Co fell on Tuesday after Fitch Ratings downgraded the parent company due to concerns over the strength of its government backing. Bids on a $250 million perpetual bond issued by Huarong Finance 2019 Co Ltd were quoted at […]
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