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Country Garden issued a profit warning on Thursday that is likely a "prelude to an ultimate credit event," JPMorgan analysts wrote in a note.
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Country Garden has 30 days to repay coupons on two notes after payment effectively came due on Monday. Read more at straitstimes.com.
With $199 billion of liabilities at the end of last year, its failure could rival (or surpass) Evergrande's.
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