Investors underestimate CNH credit risk, say fund execs

The Sino Forest debacle – which has seen the Chinese forest plantation operator lose more than 80% of its stock value since the start of June following a damning report from short-seller Muddy Waters – has drawn attention to the credit risk of Chinese corporate bond issuers, say asset managers. At the AsianInvestor and FinanceAsia Asia-Pacific Debt Investor Forum in Hong Kong this week, fund executives agreed on the attractiveness and potential of the Asian high-yield credit marke…