HONG KONG -- Distressed Chinese developer Country Garden Holdings failed to meet its obligation to make a $15.4 million interest payment due Oct. 18 on a U.S. dollar-denominated bond, the global credit industry arbiter said in a decision issued Thursday.
The Credit Derivatives Determinations Committees replied to a question submitted by an anonymous eligible market participant seeking to determine whether a "failure to pay credit event occurred with respect to Country Garden Holdings."
