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January 25, 2022

CCXAP assigns Quzhou Communications Investment Group Co., Ltd.’s USD green bonds final BBBg rating

Hong Kong, 25 January 2022 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has assigned Quzhou Communications Investment Group Co., Ltd.’s (“QCIG” or the “Company”) (BBBg/stable) USD200 million 2.5% green bonds due 2025 a final BBBg rating.

 

The bonds constitute direct, unconditional, unsubordinated, and unsecured obligations of QCIG, which shall at all times rank pari passu with all the Company’s other present and future unsecured and unsubordinated obligations.

 

The Company intends to use the gross proceeds for project construction in accordance with the Green Finance Framework, including projects that will deliver environmental benefits to support its business strategy and vision.

 

CCXAP’s final rating on this debt obligation follows QCIG's completion of its USD bond issuance, of which the final terms and conditions are consistent with expectations. The final rating is in line with the expected rating assigned on 18 January 2022.

 

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 Rating Methodology for China’s Local Infrastructure Investment and Financing Companies dated May 2020, available at www.ccxap.com (Rating Methodologies).