HONG KONG, 6 January 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 offshore bonds (“the Bonds”) to be issued by Longchuan Overseas Investment Co., Ltd., an indirect wholly-owned subsidiary of Yangzhou Jianghuai Construction Development Co., Ltd. (“YJCD”; ‘BBB’/Stable). The bond is unconditionally and irrevocably guaranteed by YJCD.
YJCD intends to use the net proceeds from this offering for refinancing its existing offshore indebtedness, project constructions and replenishing working capital.