Country Garden Wins Reprieve on Debt Payments But Still Faces Uphill Battle

• Country Garden secured approval to extend a major onshore bond payment over three years.
• The company narrowly avoided default by making overdue interest payments on dollar bonds.
• Country Garden posted a record $7 billion first-half loss and has $15 billion in debts due soon.
• The company is selling assets and negotiating with creditors to improve its liquidity position.
• Despite government support measures, Country Garden still faces financial challenges due to China's property downturn.

12 Articles

CNN Boston Globe Forbes CNN Reuters Business Insider Washington Post Reuters CNN CNBC Reuters Reuters