Country Garden Avoids Default, Still Stuck With Mountain of Debt
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Country Garden's Great Wall of Debt won't collapse tomorrow. China's largest private developer has bought itself some time to pay off more than half a billion dollars in domestic bonds after reaching an extension agreement with creditors this past week.
While it's a much-needed reprieve for both Country Garden and the rest of China's ailing property sector, plenty of headwinds are approaching, The Wall Street Journal reported.
Source Fool.com
