Lianhe Global has assigned ‘BB-’ Rating to Fujian Yango Group Co., Ltd.’s Proposed USD Notes

HONG KONG, 19 September 2019 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BB-’ global scale Long-term Issuance Credit Rating to the senior unsecured USD Notes (“USD Notes”) to be issued by Fujian Yango Group Co., Ltd.’s (“Fujian Yango”; ‘BB-’/Stable) indirect wholly-owned subsidiary Yango (Cayman) Investment Limited, which is unconditionally and irrevocably guaranteed by Fujian Yango.

Fujian Yango intends to use the net proceeds from this offering for refinancing its existing indebtedness and for general corporate purposes.