China's immovable major Evergrande Group, which has a huge amount of debt and is in financial difficulty, announced that the major rating agency "S & P Global Ratings" has fallen into partial default = default.
This is the second case of the Evergrande Group's partial default certification by a major rating agency.
The Evergrande Group reportedly did not pay interest on dollar-denominated corporate bonds, which reached its final maturity on December 6, for a total of approximately JPY 82 million and JPY 9.3 billion.
In response to this, the "S & P Global Ratings" downgraded the Evergrande Group's rating on the 17th and found that it had fallen into partial default = default.
Following the decision on December 9 by the major rating agency Fitch Ratings that it had fallen into a partial default, the company's business environment is becoming even more challenging.
Chinese authorities are increasing their stance to be involved in the management issues of the Evergrande Group, and at the important meeting to decide the economic management policy for next year held in December, they have shown their stance to stabilize the real estate market, and the impact is expanding. The focus is on how to suppress.