Two of China’s Strongest Developers Face Ratings Cuts by Moody’s
- Vanke, Jinmao on watch for downgrade after sector view lowered
- Seven other builders have ratings outlook dropped to negative
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Moody’s Investors Service has put two of China’s few investment-grade developers on review for possible downgrade, the latest sign that fallout from the real estate industry’s debt crisis is spreading.
China Jinmao Holdings Group Ltd. and China Vanke Co. are facing possible cuts, part of a number of ratings actions announced by Moody’s Thursday following last week’s cut of its sector view.