Dow Jones Newswires: China’s Country Garden indicates default, warns of difficulty in meeting debt obligations

by | Oct 9, 2023 | Stock Market

By P.R. Venkat Country Garden Holdings has warned that it won’t be able to meet all of its offshore payment obligations when they come due, the latest Chinese property developer to flag liquidity and business challenges. The company said Tuesday that non-payments may lead to creditors demanding an acceleration of payments.

“The group faces significant uncertainty regarding asset disposals, and its liquidity position is expected to remain very tight in the short- to medium-term,” it said. Write to P.R. Venkat at [email protected]

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