HONG KONG, 23 December 2019 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, says Fujian Yango Group Co., Ltd.’s (“Fujian Yango”; ‘BB-’/Stable) proposed tap issuance of its USD284 million 12.5% senior notes due 2021 will not affect the ‘BB-’ rating on the notes.