MDJH - China Evergrande debt woes reverberate in Chinese real estate stocks bonds

Uncertainty continues to rattle Chinese real estate companies' stocks and bonds as S&P Ratings and Fitch downgrade other property developers in the wake of China Evergrande's (OTCPK:EGRNF -2.9%) (OTCPK:EGRNY -1.7%) debt crisis. Country Garden Holdings (OTCPK:CTRYF), KE Holdings (BEKE -4.2%), and MDJH (MDJH) are among U.S.-listed companies operating in China's real estate market. S&P Global Ratings downgraded Greenland Holding's long-term issuer credit rating to B+ from BB on Wednesday, pushing it further into junk territory. "We expect the China-based property developer's cash generation to slow amid market downturns. However, we still expect the company to manage its upcoming maturities through internally generated resources," S&P said in a statement. S&P also cut E-House (China) Enterprise Holdings' to B from B+ as the credit rating company believes E-House's " debt leverage will increase as the agency business scales down due to weakening property sales amid the industry down cycle." Fitch Ratings downgrades Modern Land

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China Evergrande debt woes reverberate in Chinese real estate stocks, bonds