Fitch Downgrades Trump Hotel Builder in Panama, Citing Defaults
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Fitch Ratings downgraded $220 million in bonds that Newland International Properties, Corp. is using to finance construction of the Trump Ocean Club in Panama.
Fitch downgraded the debt to CCsf from B-sf, citing “continued uncertainty over the willingness and ability” of buyers to take possession of apartment units, Fitch said in a report today.