HONG KONG, 25 July 2024 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘A+’ global scale Long-term Issuance Credit Rating to the CNY480 million, 7.8% guaranteed green bonds due 2027 (“the Bonds”) issued by Chongqing Tongnan Construction Engineering (Group) Co., Ltd. (“CTCE”; ‘BBB-/Stable’).
The bonds constitute CTCE’s direct, general, unsubordinated, unconditional and unsecured obligations which shall at all times rank at least equally with all its other present and future unsecured and unsubordinated obligations. The bonds are unconditionally and irrevocably guaranteed by Chongqing Xingnong Financing Guarantee Group Co., Ltd. (“CXFG”; ‘A+’/Stable).
CTCE intends to use the net proceeds from this offering for project construction and replenishment of working capital.