Moody's: Evergrande's ratings unaffected by consent solicitation
Hong Kong, February 27, 2017-- Moody's Investors Service says that China Evergrande Group's consent solicitation, if successful, will be credit positive, but will have no immediate impact on its B2 corporate family rating or negative rating outlook. On 27 February 2017, Evergrande said that it is seeking consent from the existing note holders to amend the terms of its four USD senior notes due between 2018 and 2020, mainly to relax the covenants restrictions, such as lowering the...China Evergrande Group is an investment holding company. Through its subsidiaries, Co. is engaged in property development, property investment, property management, property construction and other property development related services in the People's Republic of China (which include resort complexes with hotels, sports arenas, and other tourist-related activities). Co.'s operations are organized along four business segments: property development, property investment, property management and other businesses. Co.'s other businesses include property construction and other property development related services.
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