HONG KONG, 20 January 2023 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has downgraded the global scale Long-term Issuer Credit Rating of LVGEM (China) Real Estate Investment Company Limited (95.HK) (“LVGEM” or “the company”) to ‘B’ from ‘BB-’.
Lianhe Global has also downgraded the global scale Long-term Issuance Credit Rating of the senior unsecured USD notes and the Issuance Credit Ratings of the senior unsecured HKD and USD commercial paper notes issued by LVGEM to ‘B’ from ‘BB-’. A full list of issuance ratings is included in this press release.
All ratings have been put on Rating Watch Negative (RWN).