China Evergrande Group’s woes deepened as an advertiser sought legal action for payments and its credit rating was cut again by Moody’s Investors Service.
In the latest move by a creditor to protect its assets, Leo Group Co. said it filed a lawsuit against Evergrande’s Hengda Real Estate unit to pay for advertisements. It’s asking a Shenzhen court to freeze some of the unit’s assets, including bank accounts, an exchange filing showed Tuesday.
