Fitch Downgrades China Vanke to C on Heightened Default Risk

MT Newswires Live12-18 19:35

Fitch Ratings has lowered China Vanke's (HKG:2202) long-term foreign and local currency issuer default ratings to C from CCC-, among other ratings, according to a recent release.

The action comes as the Chinese homebuilders approached a five-working-day grace period for the repayment of principal and interest on a 2 billion yuan bond due Dec. 15, 2025, Fitch said.

This signifies elevated default risk, with the company failing to agree with bondholders on its proposed extension of the bond maturity, the rating agency said.

The company's available cash dropped to 60 billion yuan in September while facing about 6 billion yuan of capital market debt maturing in December and an additional 12 billion yuan in 2026, Fitch said.

The company may need shareholder support to repay the maturities, according to Fitch.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2592970425?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-18 19:35","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2592970425","market":"hk","top_or_hot":-1,"title":"Fitch Downgrades China Vanke to C on Heightened Default Risk","media":"MT Newswires Live","content":"<html><body><p> Fitch Ratings has lowered <a href=\"https://laohu8.com/S/CHVKF\">China Vanke</a>'s (HKG:2202) long-term foreign and local currency issuer default ratings to C from CCC-, among other ratings, according to a recent release.</p><p>The action comes as the Chinese homebuilders approached a five-working-day grace period for the repayment of principal and interest on a 2 billion yuan bond due Dec. 15, 2025, Fitch said.</p><p>This signifies elevated default risk, with the company failing to agree with bondholders on its proposed extension of the bond maturity, the rating agency said.</p><p>The company's available cash dropped to 60 billion yuan in September while facing about 6 billion yuan of capital market debt maturing in December and an additional 12 billion yuan in 2026, Fitch said.</p><p>The company may need shareholder support to repay the maturities, according to Fitch.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fitch Downgrades China Vanke to C on Heightened Default Risk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFitch Downgrades China Vanke to C on Heightened Default Risk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-12-18 19:35</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Fitch Ratings has lowered <a href=\"https://laohu8.com/S/CHVKF\">China Vanke</a>'s (HKG:2202) long-term foreign and local currency issuer default ratings to C from CCC-, among other ratings, according to a recent release.</p><p>The action comes as the Chinese homebuilders approached a five-working-day grace period for the repayment of principal and interest on a 2 billion yuan bond due Dec. 15, 2025, Fitch said.</p><p>This signifies elevated default risk, with the company failing to agree with bondholders on its proposed extension of the bond maturity, the rating agency said.</p><p>The company's available cash dropped to 60 billion yuan in September while facing about 6 billion yuan of capital market debt maturing in December and an additional 12 billion yuan in 2026, Fitch said.</p><p>The company may need shareholder support to repay the maturities, according to Fitch.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0034224299.USD","symbol_name":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2592970425","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2592970425","pubTimestamp":1766057707,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Fitch Ratings has lowered China Vanke's  long-term foreign and local currency issuer default ratings to C from CCC-, among other ratings, according to a recent release.The action comes as the Chinese homebuilders approached a five-working-day grace period for the repayment of principal and interest on a 2 billion yuan bond due Dec. 15, 2025, Fitch said.This signifies elevated default risk, with the company failing to agree with bondholders on its proposed extension of the bond maturity, the rating agency said.The company's available cash dropped to 60 billion yuan in September while facing about 6 billion yuan of capital market debt maturing in December and an additional 12 billion yuan in 2026, Fitch said.The company may need shareholder support to repay the maturities, according to Fitch.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","02202":"万科企业","BK1240":"房地产开发","000002":"万科A","BK1507":"粤港澳大湾区","BK1555":"内房股","BK1521":"挪威政府全球养老基金持仓"},"translate_title":"惠誉因违约风险加剧将万科评级下调至C","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02202":1.96,"000002":1.96},"content_text":"Fitch Ratings has lowered China Vanke's (HKG:2202) long-term foreign and local currency issuer default ratings to C from CCC-, among other ratings, according to a recent release.The action comes as the Chinese homebuilders approached a five-working-day grace period for the repayment of principal and interest on a 2 billion yuan bond due Dec. 15, 2025, Fitch said.This signifies elevated default risk, with the company failing to agree with bondholders on its proposed extension of the bond maturity, the rating agency said.The company's available cash dropped to 60 billion yuan in September while facing about 6 billion yuan of capital market debt maturing in December and an additional 12 billion yuan in 2026, Fitch said.The company may need shareholder support to repay the maturities, according to Fitch.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2592970425","isCrawlerRequest":true}