Rating Symbol Definition and Scale

September 19, 2025

Lianhe Ratings Global Limited (“Lianhe Global”) assigns credit ratings to issuers and their issuance of financial instruments. Issuer and issuance credit ratings can be long-term and short-term. Long-term credit ratings address default risk over the long term, while short-term credit ratings address default risk of no more than a year.

Rating Process & Committee

March 7, 2025

Lianhe Global rating process generally includes the following stages:

  • Rating engagement with Lianhe Global;
  • Analyst staffing;
  • Information review and analysis;
  • Rating committee;
  • Rating result communication;
  • Rating result publication;
  • Rating surveillance; and
  • File and record keeping.

Independence and Conflict of Interests

It is essential in order for Lianhe Global to function appropriately in the marketplace that Lianhe Global retains an appropriate degree of objectivity when determining credit ratings. A potential and perceived lack of independence and/or existence of conflict of interest present challenges to Lianhe Global’s objectivity and role in the marketplace.

Lianhe Global requires its employees to be in a position of independence and has adopted internal procedures and mechanisms to identify, and eliminate, and/or manage and disclose as appropriate, any actual or potential conflicts of interest that may influence either: (i) the ratings Lianhe Global assigns; or (ii) the judgement and analyses of the licensed representatives who are involved in the preparation of ratings in order to ensure that credit rating services are undertaken in an objective manner.

Disclosure of any actual or potential conflicts of interest should be made in a timely manner.