After the Chinese real estate development company Evergrande, which had difficulties in recovering its debt of approximately 300 billion dollars, Fantasia began to be unable to pay its debts. When the company failed to make the bond payment it was due yesterday, its rating suddenly dropped from B to CC-.
China’s most powerful and “the most indebted” Evergrande, known as the real estate company, was on the agenda of the market because it could not make the payments it had to make for a long time. The company, with $300 billion in debt, was expected to go bankrupt and even recently The company’s shares are listed on the Hong Kong Stock Exchange. stopped.
After this event, which had the characteristics of showing the first steps of a global crisis, it was revealed that Fantasia, another real estate company, could not pay its debts. The company made a statement to the stock market. failing to make their last bond payment reported.
Fantasia has nearly $13 billion in debt
Fantasia’s power is not as great as Evergrande, but real estate investors in particular creating a domino effect He is very concerned about the possibility of affecting the entire industry.
The shares of Fantasia, whose total debt is calculated as 13 billion dollars, have not been traded since 9 September. While the company’s rating so far was B, After failing to pay a debt of 205.7 million dollarsa has fallen to C–.
In another statement made, it was stated that Fantasia did not include the documents showing that it could not pay the bonds in its previously announced financial reports, and this is more than what appears in the company. there may be a much more serious liquidity problem specified.