As Evergrande teeters on the edge of bankruptcy, more Chinese developers will default

A version of this article was first published on FinanceAsia. Following China Evergrande Group’s admission that it is teetering near bankruptcy, more Chinese property developers are expected to default in the next six to 12 months, according to S&P Global Ratings. Offshore bondholders of China Evergrande Group reportedly did not receive coupon payments by Monday (December 6), the end of a 30-day grace period. If the group fails to make the $82.5 million in interest payments,…