China Evergrande Defaults on Its Debt, Fitch Says

HONG KONG — China Evergrande has defaulted on the debt it owes to global investors, one credit rating firm said on Thursday, as questions swirled about how Beijing would fix a debt-laden property company that has come to symbolize the problems plaguing the world’s second-largest economy. The firm, Fitch Ratings, said in a statement that it had placed the Chinese property developer in its “restricted default” category. The category means that China Evergrande had formally defaulted but had not yet entered into any kind of bankruptcy filing, liquidation or other…