China Erzhong Parent to Take Over Bonds Post Court Decision

  • Move means the notes should be paid, according to Moody's
  • Erzhong had faced speculation it may default on the notes

China National Erzhong Group Co. said its parent company plans to take over its bonds due 2017 after a local court accepted a restructuring request from one of its creditors, raising the chance investors will recover their principal.

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