Evergrande's Payment Miss May Not Signal Liquidity Issue: Lucror
(Bloomberg) -- News of China Evergrande’s Nanchang unit being blacklisted by a local government for missing a payment may not be a sign of liquidity problems, according to Lucror Analytics in a report.
It is believed the subsidiary missed a minor late payment of 500m yuan in relation to a land transfer fee, Lucror says.
Evergrande noted the subsidiary has not notified the group of any liquidity problems: report
Also, the subsidiary is not a significant one to the co., Lucror says.
That said, being blacklisted by a local government, if confirmed, is negative for its reputation: Lucror
NOTE: Evergrande’s 8.75% dollar note due 2025 was up slightly to 83 cents on the dollar as of 10:20am in Hong Kong after falling 2.2 cents on Thursday, according to prices compiled by Bloomberg.
Earlier story: Local Govt Blacklists Evergrande for Payment Failure: Debtwire
2019-08-16 02:37:25.626 GMT
By Ina Zhou