HONG KONG, 7 July 2023 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB-’ global scale Long-term Issuance Credit Rating to the senior unsecured bonds (“the Bonds”) to be issued by Beihai State-owned Assets Holding Co., Ltd, an indirect wholly-owned subsidiary of Binzhou Beihai State-owned Assets Operation and Management Co., Ltd. (“BBSA”; ‘BBB-’/Stable). The Bonds are unconditionally and irrevocably guaranteed by BBSA.
BBSA intends to use the net proceeds from this offering for project construction and supplement of working capital.