Fitch Ratings: Downgrades Vanke Corporation (02202.HK) long-term issuer rating to "RD"

On December 24th, Fitch Ratings downgraded China Vanke Co., Ltd.'s long-term foreign and local currency issuer default ratings (IDRs) from "C" to "RD". Meanwhile, Fitch also confirmed Vanke Real Estate (Hong Kong) Company Ltd.'s long-term issuer default rating as "CC". Fitch also confirmed Vanke Real Estate (Hong Kong) Company Ltd.'s senior unsecured rating and the rating of its outstanding senior notes as "C" with a recovery rating of "RR5".