Another high yield star dims, China Orienwise downgraded

22 Oct 2008

China Orienwise, the Chinese financial services company, could become the latest Asian high yield bond issuer to fall into default later this month following an investigation into suspected fraud.

Moody’s, which cut China Orienwise’s Ba3 rating to B3 in September, downgraded the company to Caa1 on Tuesday, noting ...

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