HONG KONG, 24 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 proposed senior unsecured USD notes (“the USD notes”) to be issued by China Hongqiao Group Limited (“China Hongqiao”; ‘BB’/Positive).
China Hongqiao intends to use the net proceeds from this offering for refinancing its existing indebtedness and for general corporate purposes.