Lianhe Global has assigned ‘BBB-’ Rating to Liang Shan International Development Limited’s proposed USD bonds

HONG KONG, 20 June 2019 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB-’ global scale Long-term Issuance Credit Rating to the proposed senior unsecured USD bonds (“USD bonds”) to be issued by Liangshan Development (Holdings) Group Co., Ltd. (“LDHG”), (formerly known as Liangshan State-Owned Investment & Development Co., Ltd. (“LSID”); ‘BBB-’/Stable)’s wholly-owned subsidiary Liang Shan International Development Limited, which is unconditionally and irrevocably guaranteed by LDHG.

The net proceeds from the USD bonds will be used to refinance LDHG’s existing debt and for general corporate purposes.