Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Shimao Property Holdings – Here We Go Again

Pakistan: Public and External Debt Remain Unsustainable; Policy Tightening Ahead

Bond Market Monitor: Between a Rock and a Hard Place

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Independent Asian Credit Research, Bondcritic

Warut Promboon

Independent Asian Credit Research

Credit

<ul>
<li>A lack of prediction accuracy leads us to advise against investing in risky credits.</li>
<li>We expect up 1/3 of Chinese property developers to either default or negotiate with their creditors and see a few sovereigns running out of cash, following Sri Lanka’s demise. </li>
<li>Shimao's failure to negotiate with its creditors leads us to believe the liquidity situation at many Chinese developers is worse than expected.</li>
</ul>


A lack of prediction accuracy leads us to advise against investing in risky credits.
We expect up 1/3 of Chinese property developers to either default or negotiate with their creditors and see a few sovereigns running out of cash, following Sri Lanka’s demise. 
Shimao's failure to negotiate with its creditors leads us to believe the liquidity situation at many Chinese developers is worse than expected.


Pakistan Government International Bond (PKSTAN GOVT)

Shimao Services Holdings Limited (873 HK)

Bond Market Monitor: What Shimao’s Default Tells Us