HONG KONG, 24 January 2024 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘A-’ global scale Long-term Issuance Credit Rating to the Proposed Credit Enhanced JPY Bonds (“the Bonds”) to be issued by Dongyang State-owned Assets Investment Co., Ltd. (“DSAI”; ‘BBB+’/Stable). The bonds will have the benefit of JPY-denominated irrevocable standby letter of credit (“the SBLC”) issued by Bank of Hangzhou Co., Ltd. (“BOH”)’s Jinhua Branch.
DSAI intends to use the net proceeds from this offering for project construction and replenishment of working capital.