HONG KONG, 12 May 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB’ global scale Long-term Issuance Credit Rating to the proposed credit enhanced CNY bonds (“the Bonds”) to be issued by Qingdao Oceantec Valley Investment Development Group Co., Ltd.’s (“QDOV”; ‘BBB’/Stable) wholly-owned subsidiary Qingdao Langu International Co., Ltd. (“QDLI”).
The Bonds constitute QDLI’s direct, 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. QDOV has provided a keepwell deed and a deep of equity interest purchase undertaking in supporting the Bonds.
QDOV intends to use the net proceeds from this offering for project construction and replenishment of working capital.