Property firms face downgrades if RMB slides further

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By Rev Hui
21 Jan 2016

Chinese property developers could face rating downgrades if the renminbi continues to fall, according to Standard & Poor’s.

The RMB has depreciated more than 6% since China set out a new methodology for generating its daily $/CNY fix in August 2015, said Ester Liu, S&P associate director of corporate ratings, speaking at a teleconference on Monday. The yuan was quoted at Rmb6.5585 against the dollar on Thursday.

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