Fitch: Downgrades Wanda Commercial and Wanda Hong Kong's long-term foreign issuer ratings to "RD" while upgrading to "CC"

On January 16, Fitch Ratings downgraded Dalian Wanda Commercial Management Group Co., Ltd ("Wanda Commercial") and Wanda Commercial Properties (Hong Kong) Co. Limited ("Wanda Hong Kong")'s long-term Issuer Default Rating (IDR) from "C" to "RD" (Restricted Default) as the terms amendment of the $400 million bond issued by its subsidiary met the criteria for a Distressed Debt Exchange (DDE) under Fitch's Corporate Rating Criteria.