China Evergrande Group issued a dire assessment of its financial health, saying it faces “tremendous” liquidity strains and has hired advisers for what could be one of the country’s largest-ever debt restructurings.
The appraisal was Evergrande’s most downbeat since market confidence in the developer began deteriorating in May, and followed a spate of protests over the past week by angry homebuyers, retail investors and employees demanding that the company make good on its obligations.
Evergrande Hires Restructuring Advisers as Crisis Escalates - Bloomberg
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