Translated by: MOS Education Team – XU
Zero Hedge reported on September 26 that one of Sunac’s subsidiaries asked authorities in the city of Shaoxing for assistance after local housing curbs affected sales at the company’s projects. The market is almost frozen and they’re facing huge pressure of the cash crunch, the company said in the letter.
Sunac’s dollar bonds slumped on Friday after the news broke out among credit traders, with the 5.95% note due 2024 dropping to the lowest price on record. “Sunac has the third-biggest weighting on a Bloomberg index of Chinese high yield dollar bonds, after Kaisa and a riskier note sold by ICBC this month.”
In fact, Sunac complies with two of China’s debt metrics known as the three red lines that is better than Evergrande’s situation, which has high speculative-grade ratings at the three global credit risk accessors, has about half the liabilities of its larger peer Evergrande. With the nation’s property slowdown deepens and the CCP’s maintains rules to cut leverage in the industry and cool housing activity, companies with better financial conditions than Evergrande are also being affected. Sunac’s shares have slumped 50% this year, and it’s looking to sell assets to raise cash.
Through its BGY strategies (Blue/Gold/Yellow, info and surveillance/bribery with money/sex coercion), the Communist Party (CCP) has successfully implanted Chinese-funded enterprises in the capital markets of Europe, the United States and other countries for decades. The storms in Chinese-funded enterprises without a double will be shaking all economies and societies throughout the world. It is the CCP’s insidious plan that when it no longer can sustain the illusive rosy mirage of the economy, it will definitely detonate an economic bomb geared to drag the entire world down with it into the abyss. Any investors in their right minds shall heed the advice from Mr. Miles Guo’s live-casts, which are the voice of the Whistleblower’s Movement, and apply emergency brakes and damage control to their financial portfolios as soon as possible.
Proofread and edited by: RD16
Posted by: RD16
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