HONG KONG, 8 May 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 Yantai Zhengyuan Investment Holding Group Co., Ltd. (“YZIHG”; ‘BBB’/Stable)’s indirect wholly-owned subsidiary, Zheng Yuan International Development (BVI) Co., Limited, which is unconditionally and irrevocably guaranteed by YZIHG.
YZIHG intends to use the net proceeds from this offering for project construction and supplement of working capital.