News Snapshot:
Evergrande Group, China's second-biggest property developer by sales, is not yet experiencing a “Lehman moment” despite being on the brink of default with $300 billion in outstanding debt , according to ratings agency S&P. “It is unlikely that it would become one. The issue is largely a Chinese domestic issue and more than likely will play out that way,” Gavin Gunning, senior director of financial institutions at S&P, said during a webinar organised by the ratings agency on Tuesday. In September 2008, US investment bank Lehman Brothers filed for bankruptcy, marking the biggest corporate failure in US history, which had...
