S&P downgraded Vanke's credit rating from CCC to CCC-, citing an increased risk of Vanke facing difficulties and restructuring within the next six months. Due to insufficient liquidity, Vanke's financial commitments are unsustainable. In the next six months, Vanke will face a large number of maturing bonds, while its operating cash flow will be negative, and the assessment suggests that its available cash reserves may be very limited. $BNB $BTC $ETH