Business Columnists
Opinion

What Evergrande’s Default Means, and Doesn’t

What Evergrande’s Default Means, and Doesn’t
The China Evergrande Centre building sign is seen in Hong Kong, on Sept. 23, 2021. Tyrone Siu/Reuters
Chris Temple
|Updated:
Commentary

Earlier this month, Fitch Ratings made official what the markets already knew: China’s Evergrande Group and two of its subsidiaries were downgraded to “restricted default.” This followed the grace period expiring on Dec. 6 for some $1.24 billion in overdue interest payments on two chunks of U.S. dollar-denominated debt originally due back on Nov. 6.

Chris Temple
Chris Temple
Author
Chris Temple has set himself apart with his unique ability to make the intricacies of the markets and our world understandable to the average person, chiefly via his newsletter The National Investor.  With over five decades in the financial and investment world, his commentary has appeared in Barron’s, Forbes, Investors’ Digest, among other publications. To discover how to get his proprietary research in the paid newsletter service, go to The National Investor.
Related Topics