KONTAN.CO.ID - HONG KONG. Fitch Ratings said on Thursday it has decided to withdraw its rating on embattled property developer China Evergrande Group and two of its subsidiaries as the firms have stopped participating in the process.
The rating agency in December downgraded Evergrande and its subsidiaries, Hengda Real Estate Group Co Ltd and Tianji Holding Ltd, to so-called "restricted default" status, saying the firms had defaulted on their offshore bond obligations.
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