News Snapshot:
Credit rating agency S&P Global ruled after the firm won approval from lenders to delay a $725m senior unsecured note payment due on Thursday Chinese developer Guangzhou R&F Properties, which has a number of super-sized projects in global cities such as London, saw its Hong Kong offshoot declared in “selective default” on Thursday after it pushed through a bond payment delay. Credit rating agency S&P Global took the step after the struggling firm got approval from lenders to delay a $725 million senior unsecured note payment that had been due on Thursday. “We view the transaction as distressed restructuring tantamount...
