Country Garden falls as Fitch plans to withdraw ratings on co's property services

Country Garden Services Holdings

13/11/2023 06:43

** Shares of Country Garden Holdings Co Ltd  2007.HK  fall
2.6% to HK$0.74 after global ratings agency Fitch says to
withdraw all the ratings on the developer's property services
unit 
    ** Fitch said on Monday it plans to withdraw all the ratings
on Country Garden Services Holding  6098.HK  on or about Dec 12
for commercial reasons
    ** Fitch had downgraded Country Garden Services to "BB+" and
placed its rating on negative watch last week
    ** Shares of Country Garden Services decline 2.7% to
HK$6.75, their lowest since Oct 27
    ** Hang Seng Mainland Properties Index  .HSMPI  falls 1.3%,
while Hang Seng Index  .HSI  gains 0.3%
    ** Country Garden stock down 72.3% YTD and stock of Country
Garden Services down 64.2% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))