Firm Hit by Credit-Rating Downgrade Tries to Calm Fears
A Shenzhen-listed company has tried to calm fears about its financial soundness after a domestic ratings agency downgraded its creditworthiness and retracted a credit rating on a proposed debt sale by the grassland restoration firm over concerns about its ability to repay the funds.
Inner Mongolia M-Grass Ecology And Environment Group Co. Ltd. issued a statement defending its finances on Tuesday, prompting its shares to drop by 9.93%, almost the maximum daily limit of 10%, to 6.44 yuan ($1.01) in Wednesday trading. The shares have fallen by almost a third over the past month.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas