BUZZ-Country Garden falls as Fitch plans to withdraw ratings on co's property services

Reuters2023-11-13

** Shares of Country Garden Holdings Co Ltd fall 2.6% to HK$0.74 after global ratings agency Fitch says to withdraw all the ratings on the developer's property services unit

** Fitch said on Monday it plans to withdraw all the ratings on Country Garden Services Holding on or about Dec 12 for commercial reasons

** Fitch had downgraded Country Garden Services to "BB+" and placed its rating on negative watch last week

** Shares of Country Garden Services decline 2.7% to HK$6.75, their lowest since Oct 27

** Hang Seng Mainland Properties Index falls 1.3%, while Hang Seng Index gains 0.3%

** Country Garden stock down 72.3% YTD and stock of Country Garden Services down 64.2% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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