Country Garden’s credit profile deteriorates significantly on missed bond payments and a profit warning

2023-08-15 ~ 2023-08-21

Published on: 2023-08-21

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This Weekly Credit Brief was published 32 days ago. The information within it may have since developed or changed.
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PD – Term Structure

AS – Term Structure

Recovery Rate:


PD – Historical Time Series

Forecast Horizon:

AS – Historical Time Series

Contract Term: Recovery Rate:
Probabilities of Default for Different Prediction Horizons:
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* There is a total of 2 event(s) for China Evergrande Group (China Evergrande)
    - Suspended in Oct-2021.
    - Default/bankruptcy in Dec-2021.
Data Table
Actuarial Spreads for Different Tenors:
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* There is a total of 2 event(s) for China Evergrande Group (China Evergrande)
    - Suspended in Oct-2021.
    - Default/bankruptcy in Dec-2021.
Set Individual Recovery Rates (RR) Data Table
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The historical time series of the Actuarial Spread for the selected entity(s) based on a contract term of:
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Data notes

    • China Evergrande Group (China Evergrande): The latest financial statement is up to 2021, we will calculate PD for China Evergrande Group after the new financial statement is released.
    • There is a total of 2 event(s) for China Evergrande Group (China Evergrande)
      • Suspended in 2021-10.
      • Default/bankruptcy in 2021-12.
    • The PDs and Actuarial Spreads of each company/economy are computed using model parameters that were calibrated
      • on 2023-09-11.
      • using data that was available on 2023-08-31.
    • The aggregate PD and Actuarial Spread displayed are calculated using the simple median of the individual measures in each group. The aggregate PD and Actuarial Spread using mean values are accessible through the data download section.
    • The regions are regrouped on 2017-12-18 as: Asia Pacific (Developed), Asia Pacific (Emerging), North America, Europe (including 2 subgroups: Eurozone and Non-Eurozone), Latin America & Caribbean (including 2 subgroups: Latin America and Caribbean), Sub-Saharan Africa, and Middle East, North Africa & Central Asia (including 3 subgroups: Middle East, North Africa and Central Asia).

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