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Evergrande: Chinese real estate giant defaults on its debt, Fitch Ratings says

Evergrande, Chinese real estate developer has defaulted on its debt, according to Fitch Ratings. The credit ratings agency on Thursday downgraded the company and its subsidiaries to “restricted default,” meaning that the firm has failed to meet its financial obligations. Fitch said the downgrade reflects the company’s inability to pay interest due earlier this week […]