Evergrande Default

Bloomberg -- China Evergrande Group slid deeper in equity and credit markets Tuesday fueling concerns about broader contagion after SP Global Ratings said the developer is on the brink of default. China Evergrande Group is unlikely to receive direct government support and is on the brink of defaulting on upcoming debt payments SP Global.

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Its not a Lehman moment but its still a very big deal.

Evergrande default. Chinese construction giant Evergrande looks set to default on its 300 billion of liabilities in a move that has already had global market repercussionsWhy it matters. The worlds most indebted property developer has been scrambling to pay its suppliers and warned investors twice in as many weeks that it could default on its debts. Shares of China Evergrande the troubled property giant whose fate has contributed to jitters in global markets fell again on Tuesday amid a new prediction that it would soon default.

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