Fitch downgrades Central China real estate to ‘B+’; outlook negative

Fitch Ratings has downgraded the Chinese homebuilder Central China Real Estate Limited’s (CCRE) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B+’ from ‘BB-‘. The Outlook is Negative. Fitch has also downgraded the senior unsecured rating and the ratings on CCRE’s outstanding US-dollar senior unsecured notes to ‘B+’ with a Recovery Rating of ‘RR4’, from ‘BB-‘. Full story

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