 "Fitch rating agency")
Fitch Ratings said on Thursday it has decided to withdraw its rating on embattled property developer China Evergrande Group and two of its subsidiaries as the firms have stopped participating in the process.
The rating agency in December downgraded Evergrande and its subsidiaries, Hengda Real Estate Group Co Ltd and Tianji Holding Ltd, to so-called "restricted default" status, saying the firms had defaulted on their offshore bond obligations.
In its statement on Thursday, Fitch said that it would no longer have sufficient information to maintain the ratings on Evergrande, the world's most indebted developer with more than $300 billion in debt, and
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