Chinese property developer Kaisa Group Holdings Ltd. plans to speed up asset disposals to meet investor obligations, after the indebted company missed a payment on a wealth-management product last week.

The Shenzhen-based company has sufficient “high-quality assets” it can tap to make the payments, Kaisa said in a statement on its website late Monday, adding that it would seek to sell assets in Shenzhen, Shanghai and other places. The developer said it would seek to negotiate a more feasible payment plan with investors and...

Chinese property developer Kaisa Group Holdings Ltd. plans to speed up asset disposals to meet investor obligations, after the indebted company missed a payment on a wealth-management product last week.

The Shenzhen-based company has sufficient “high-quality assets” it can tap to make the payments, Kaisa said in a statement on its website late Monday, adding that it would seek to sell assets in Shenzhen, Shanghai and other places. The developer said it would seek to negotiate a more feasible payment plan with investors and expedite sales at its property-development projects.

Kaisa apologized to investors in the statement, saying it “sincerely asks investors to give Kaisa Group a bit more time and patience.” The company’s overall asset value is greater than its liabilities, it said.

Shares of Kaisa, one of the Chinese property sector’s biggest borrowers in international bond markets, fell to an all-time low last week after the company missed a payment on a wealth-management product and said it was facing “unprecedented pressure on its liquidity.”

Kaisa had about $10.9 billion of dollar bonds outstanding as of end-June, according to its first-half results.

The Hong Kong-listed stock of the company and various units have been on a trading halt since Friday.

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On Tuesday, Fitch Ratings downgraded Kaisa further into junk territory, saying the company’s liquidity has deteriorated further, while highlighting its hefty offshore obligations. It said Kaisa has some $3.75 billion of international debt coming due by the end of 2022 and has to pay an annual interest bill on international bonds of about $1 billion a year.

“We believe Kaisa’s credit risk is high due to tight liquidity, undisclosed debt from wealth-management products, potential pressure to address non-capital market debt, declining contracted sales and limited progress on asset disposals,” the credit rating firm said.

Fitch cut Kaisa’s rating two notches to CCC- in its second downgrade of the company in less than two weeks. Fitch says triple-C ratings imply substantial credit risk, where “default is a real possibility.”