HONG KONG, 14 August 2024 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB’ global scale Long-term Issuance Credit Rating to the CNY247 million, 7.0% senior unsecured bonds due 2027 (“the Bonds”) issued by Jining City Development Capital Holdings Co., Ltd. (“JCDCH”; ‘BBB’/Stable). The company plans to issue a CNY bonds tap issuance, which will be consolidated and form a single series with the Bonds. The proposed tap issuance will not affect the rating on the Bonds.
JCDCH intends to use the net proceeds from the Bonds and the tap issuance for project construction and supplement of working capital.