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Ratings withdrawn
Source: Agencies |
December 15, 2011, Thursday
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Print Edition
Print Edition
RATINGS agency Moody's is withdrawing the debt ratings for Sino-Forest Corp less than two days after the Chinese timberland owner said it would miss a interest payment due this week.
The ratings agency also said yesterday it has downgraded the debt of Sino-Forest, which is facing allegations it exaggerated its assets.
Sino-Forest said on Monday that it will not make a US$9.8 million interest payment due this week and that it will miss deadlines to release both its third-quarter results and a report on fraud allegations.
The ratings agency also said yesterday it has downgraded the debt of Sino-Forest, which is facing allegations it exaggerated its assets.
Sino-Forest said on Monday that it will not make a US$9.8 million interest payment due this week and that it will miss deadlines to release both its third-quarter results and a report on fraud allegations.
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