China's property sector woes could spell trouble for prestige mega-projects in London, New York, Sydney and other top cities as the developers behind them scramble for cash.
An R&F spokesperson in London said it remained "fully committed" to all its British projects.
"R&F's capacity to handle its near-term debt maturities will hinge on the execution of sizable asset sales," S&P said, predicting that buildings, hotels and various stakes in projects could all be sold. Fitch meanwhile estimates R&F has 836 billion yuan of assets that could potentially be sold. Chinese developers went on a major international spending spree between 2013 and 2018, but the splurge has slowed abruptly since as Beijing has moved to curb firms' excessive debts.
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