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November 02, 2021

CCXAP downgrades Yango Group Co., Ltd. to Bg+; changes outlook to negative

Hong Kong, 2 November 2021 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has downgraded the long-term credit rating of Yango Group Co., Ltd. (“Yango”, or the “Company”) to Bg+ from BBg. At the same time, CCXAP has downgraded Yango's senior unsecured debt rating on the bonds issued by Yango Justice International Limited to Bg+ from BBg. The outlook has been changed to negative from stable.

 

Click HERE to download the press release.

 

CCXAP’s public ratings are available at www.ccxap.com (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 www.ccxap.com (Rating Methodologies).