China Huarong’s Worsening Bond Rout Stokes Market Contagion

Other Chinese dollar bonds also slump, Asia credit risk widens
Moody’s, Fitch join S&P in putting Huarong ratings on review

WATCH: Investor concern over the financial health of China Huarong Asset Management Co., worsened, with the yields on some of the company’s bonds climbing to records.(Source: Bloomberg)

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By Richard Frost and Rebecca Choong Wilkins

April 13, 2021 at 2:13 AM UTC

Updated on

April 13, 2021 at 9:58 AM UTC

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Growing panic over the financial health of one of China’s largest bad-debt managers spilled into the broader market, as traders circulated a Caixin report that openly considered the worst-case scenario for the company.