Please scan the QR code below on your WeChat
Follow us on WeChat account

WeChat ID:

Please Login.

July 13, 2021

CCXAP assigns Sino-Ocean Group Holding Limited’s US dollar-denominated senior green notes final BBBg+ rating

Hong Kong, 13 July 2021 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has assigned Sino-Ocean Group Holding Limited’s (“Sino-Ocean” or the “Company”) (BBBg+/Stable) USD320 million 2.70% senior green notes due 2025 a final rating BBBg+. The notes are issued by Sino-Ocean Land Treasure IV Limited (the “Issuer”), a wholly-owned subsidiary of Sino-Ocean, and unconditionally and irrevocably guaranteed by Sino-Ocean.


The notes are senior obligations of the Issuer and Sino-Ocean. The notes are at least pari passu in right of payment with all other present and future unsecured and unsubordinated obligations of the Issuer and Sino-Ocean. The Company intends to use the net proceeds to repay existing medium and long-term external indebtedness due within one year and in accordance with the Company’s Green Finance Framework.


CCXAP’s final rating on the notes follows Sino-Ocean’s completion of the issuance, of which the final terms and conditions are consistent with expectations. The final rating is in line with the expected rating assigned on 6 July 2021.


Click HERE to download the press release.


CCXAP’s public ratings are available at (Rating Results) and may be distributed through media and other means. Methodology used in this rating is the Global Rating Methodology for Real Estate Development Industry dated December 2019, available at (Rating Methodologies).