BRIEF-Fitch Downgrades Xinyuan To 'RD'

Fitch Ratings: * FITCH DOWNGRADES XINYUAN TO 'RD'; UPGRADES TO 'CC'

* FITCH SAYS DOWNGRADED XINYUAN REAL ESTATE CO., LTD.'S LONG-TERM FOREIGN-CURRENCY ISSUER DEFAULT RATING TO 'RESTRICTED DEFAULT' (RD), FROM 'C' * FITCH SAYS XINYUAN'S IDR OF 'CC' REFLECTS ITS TIGHT LIQUIDITY SITUATION, WITH WEAK FUNDING ACCESS AND LARGE OFFSHORE BOND MATURITIES IN NEXT 12 MONTHS

* FITCH SAYS AFFIRMED XINYUAN'S SENIOR UNSECURED RATING AND RATING ON ITS OUTSTANDING BONDS AT 'C' WITH A RECOVERY RATING OF 'RR5' * FITCH SAYS XINYUAN'S RECENT CHANGE OF AUDITOR, CONTINUED DELAY IN PUBLICATION OF 2020 FINANCIALS MAKE IT MORE DIFFICULT TO ASSESS CREDIT METRICS

* FITCH SAYS XINYUAN'S IDR OF 'CC' REFLECTS TIGHT LIQUIDITY SITUATION, WITH WEAK FUNDING ACCESS AND LARGE OFFSHORE BOND MATURITIES IN NEXT TWELVE MONTHS Source text for Eikon: Further company coverage:

Also Read: Shree Maruti Courier aiming yearly Rs 300 crore business from its logistics vertical in next five years

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)