Largest China developer Country Garden downgraded to junk. Ratings firm cited declining sales and weaker funding access.

Found this Global 500 rating from 10 months ago entertaining. Doesn’t say much for the global economy.

www.prnewswire.com/news-releases/country-garden-rises-to-139th-on-2021-fortune-global-500-list-301347299.html

FOSHAN, China, Aug. 3, 2021 /PRNewswire/ — The latest FORTUNE Global 500 list was released on August 2nd, with the number of Chinese companies in the list increased to 143, demonstrating the strong vitality of China’s economy. Among them, China’s
leading real estate developer Country Garden Holdings (“Country Garden”) (02007.HK) continued to witness a rise in its ranking, to 139th place.

https://www.investmentwatchblog.com/largest-china-developer-country-garden-downgraded-to-junk-ratings-firm-cited-declining-sales-and-weaker-funding-access/