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CORRECTED-China preparing for Evergrande's downfall - WSJ

(Corrects typographical error in headline)

Sept 23 (Reuters) - Chinese authorities are asking local governments to prepare for the potential downfall of debt-ridden China Evergrande Group, the Wall Street Journal reported on Thursday here, citing officials familiar with the discussion.

The company, China’s second-biggest property developer, has $83.5 million in dollar-bond interest payments due on Thursday on a $2 billion offshore bond and a $47.5 million dollar-bond interest payment due next week.

Both bonds would default if Evergrande fails to settle the interest within 30 days of the scheduled payment dates. (Reporting by Sohini Podder in Bengaluru; Editing by Shounak Dasgupta)

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