HONG KONG, 08 March 2021 – 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 USD250 million 11.875% senior notes due 2023 will not affect the ‘BB-’ rating on the notes.