HONG KONG, 11 September 2024 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘A+’ global scale Long-term Issuance Credit Rating to the senior unsecured guaranteed CNY bonds (“the Bonds”) to be issued by Tongcheng Economic Development Zone Construction Investment Group Co., Ltd. (“TEDZ”; ‘BBB-/Stable’).
The bonds constitute TEDZ’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).
TEDZ intends to use the net proceeds from this offering for project investment and supplement of working capital.