...September 30, 2020 HONG KONG (S&P Global Ratings) Sept. 30, 2020--China Evergrande Group (B+/Negative/--) has eased liquidity pressure by forging an agreement with strategic investors in a planned spin-off IPO on China's domestic markets, S&P Global Ratings said today. Under a deal announced Sept. 29, 2020, investors holding about 66% of a Chinese renminbi (RMB) 130 billion strategic investment have signed agreements not to redeem their investment for cash. This is even if Evergrande does not list a key property development arm by January next year. Investors holding another 12% have completed the negotiation process and are due to formally sign the agreement shortly, while the rest is under the process of negotiation. Evergrande has not yet received regulatory approval to list the assets on the Shenzhen Stock Exchange, raising the risk that some of the strategic investors may exercise the redemption option when the listing deadline expires in January 2021. This has been one of key factors...