China-based homebuilder has ratings cut
Fitch Ratings and Moody's Investors Service have cut their ratings on Fantasia Holdings Group Co. Ltd after the China-based homebuilder failed to repay its $US206 million ($A283 million) senior notes that were due on Monday.
Fitch cut its rating to 'restricted default' from 'CCC-', while Moody's Investors Service downgraded its rating to 'Ca' from 'B3'.
Fitch also cut its rating on Fantasia's US dollar bonds to 'C' from 'CCC-'.
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