Coverage

  • General Corporate

  • Banking

  • Hybrid Instruments: Equity Credit and Notching

  • China Local Government Financing Vehicle

  • Chinese Property Developer

  • Parent-Subsidiary Linkage and Notching

 

General Corporate Rating Criteria

Lianhe Rating Global Limited’s (“Lianhe Global”) general corporate criteria was originally published on 16 July 2018. The current proposed criteria primarily elaborates on the details of the factors and sub-factors that we consider when assigning ratings to general corporates.

Lianhe Global invites market participants to provide comments and feedback on this proposed criteria by 31 March, 2021 by submitting their comments and feedback to info@lhratingsglobal.com.

No changes to our existing ratings are expected to result from the adoption of the proposed criteria, as it primarily relates to further elaboration of the original criteria published on 16 July 2018.

Banking Criteria

Lianhe Ratings Global Limited’s (“Lianhe Global”)  banking criteria was originally published on 16 July 2018. The current proposed criteria primarily elaborates on the details of the factors and subfactors that we consider when assigning ratings to banks.

Lianhe Global invites market participants to provide comments and feedback on this proposed criteria by 31 March, 2021 by submitting their comments and feedback to info@lhratingsglobal.com.

Hybrid Instruments: Equity Credit and Notching Criteria

Lianhe Ratings Global Limited (“Lianhe Global”) applies the hybrid instruments criteria to corporate entities that are not in the industry of banking, non-bank finance, regulated monopolies (e.g. utilities), not-for-profit, and public and government services.

Lianhe Global invites market participants to provide comments and feedback on this proposed criteria by 31 March, 2021 by submitting their comments and feedback to info@lhratingsglobal.com.

The criteria does not represent a comprehensive coverage but only addresses key rating factors to form our credit opinions and will be reviewed periodically.

China Local Government Financing Vehicle Criteria

Lianhe Ratings Global Limited’s (“Lianhe Global”) China Local Government Financing Vehicle (“LGFV”) criteria was originally published on 16 July 2018. The current proposed criteria primarily elaborates on the details of the factors and subfactors that we consider when assigning ratings to China LGFV.

Lianhe Global invites market participants to provide comments and feedback on this proposed criteria by 31 March, 2021 by submitting their comments and feedback to info@lhratingsglobal.com.

No changes to our existing ratings are expected to result from the adoption of the proposed criteria, as it primarily relates to further elaboration of the original criteria published on 16 July 2018.

Chinese Property Developer Criteria

Lianhe Rating Global Limited’s (“Lianhe Global”) Chinese property developer criteria is meant to supplement our general corporate criteria originally published on 16 July 2018. The framework of the criteria is similar to the general corporate criteria. The current proposed criteria primarily elaborates on the details of the factors and sub-factors that we consider when assigning ratings to Chinese property developers.

Lianhe Global invites market participants to provide comments and feedback on this proposed criteria by 31 March, 2021 by submitting their comments and feedback to info@lhratingsglobal.com.

No changes to our existing ratings are expected as a result of the adoption of the proposed criteria, as it primarily relates to further elaboration of the general corporate criteria published on 16 July 2018.

Parent-Subsidiary Linkage and Notching Criteria

Lianhe Ratings Global Limited (“Lianhe Global”) applies the parent-subsidiary linkage and notching criteria to corporate entities where we consider that the linkage between the rated entities and their respective parents may influence the rated companies’ credit profiles. The parent can be a private company or a government/state-owned entity which may factor in direct/indirect support from the government owner.

Lianhe Global invites market participants to provide comments and feedback on this proposed criteria by 31 March, 2021 by submitting their comments and feedback to info@lhratingsglobal.com.

The criteria does not represent a comprehensive coverage but only addresses key rating factors to form our credit opinions and will be reviewed periodically.