China property giant Country Garden warns of up to 7.6bn USD loss
epa10794574 A Country Garden Shanghai headquarters building, in Shanghai, China, 11 August 2023. In the previous day's Hong Kong stock exchange filing, Country Garden, China's biggest privately owned developer, warned its stakeholders that it could see a loss of up to 7.6bn USD for the year's first six months. Rating agency Moody's downgraded Country Garden's corporate family rating, explaining heightened liquidity and refinancing risk after the company missed bond payments. EPA/ALEX PLAVEVSKI
