More on Chinese property developer Evergrande's USD debt default

I posted earlier on the move from Fitch here:

• Fitch downgrades Chinese property firms Evergrande and Kaisa to 'restricted default'

A little more now, this via Bloomberg, link here (may be gated).

• Fitch cut Evergrande to “restricted default” over its failure to make two coupon payments by the end of a grace period on Monday
• a move that may trigger cross defaults on the developer’s $19.2 billion of dollar debt
• Fitch applied the same default label to Kaisa Group Holdings Ltd., which failed to repay a $400 million dollar bond that matured Tuesday.