S&P dumps Chinese property giant Evergrande into default
LONDON, Dec 17 (Reuters) - The poster child of China's property crisis China Evergrande Group (3333.HK) was officially declared in default by credit rating agency S&P Global on Friday after the sprawling firm missed a bond payment earlier this month.
"We assess that China Evergrande Group and its offshore financing arm Tianji Holding Ltd. have failed to make coupon payments for their outstanding U.S.-dollar senior notes," S&P said in a statement.