"This might be a historic credit crisis," a debt investor told Caixin, referring to a recent series of bond defaults by state-owned enterprises (SOEs).
The bond market veteran's employer holds AAA-rated bonds of two state-owned defaulters in the crisis: Brilliance Auto Group Holdings Co., a Shenyang-based automaker with links to BMW AG, and Yongcheng Coal and Electricity Holding Group Co. Ltd., a major coal mining company in Henan province.
