Chinese coal miner Wintime Energy fell behind on its debt repayments earlier this year and is scrambling to avoid default. The company announced plans to include loans issued by its healthier subsidiary Huachen Energy as part of revised debt package. Data from ratings agency Moody’s shows Huachen is also facing debt problems.
Chinese coal mining company Wintime Energy can’t pay its debts.
Since the middle of this year, the Shanghai-listed energy provider has been unable to meet repayment obligations after quadrupling its debt load in less than five years.See the rest of the story at Business Insider
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