Two global top credit rating companies are rapidly withdrawn from the business of Chinese real estate developers. The reason is that as the debt crisis of the industry intensifies, they cannot obtain sufficient information from these companies.
According to Bloomberg, Fitch and Moody's withdrawal from at least seven developers this week, including Xuhui Holdings and New Town, which have recently received the support of China Debt Credit Lest guarantee.Developers who have been revoked in other rating include China Evergrande and Jiazhaoye Group, which have already failed to breach.
Xuhui Holdings has caused the market to doubt the market this week. For developers who intend to give more powerful support, whether the Chinese government has the ability to control liquidity tensions.Given that some Chinese developers are already complex financial conditions, the revocation of rating will also make investors' decisions more difficult.
Fitch has revoked the rating of Xuhui Holdings, the Development of Xincheng and Zhongjun Group.In addition to Evergrande and Jiazhaoye, Moody's also revoked the rating of Sunac China and Jingrui Holdings.Moody's every time said that he believes that there is no sufficient or sufficient information to maintain the rating of these developers before.
