HONG KONG, 29 April 2024 – 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 Shandong Xintai Construction Group Co., Ltd.’s (“SXCG”; ‘BBB-/Stable’) wholly-owned offshore subsidiary, which is unconditionally and irrevocably guaranteed by SXCG.
SXCG intends to use the net proceeds from this offering for project construction and supplement of working capital.