News & Events
Hong Kong, 24 October 2025 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has affirmed the senior unsecured debt rating (credit-enhanced) of Ag to the offshore CNY bonds (ISIN: XS2952164841) issued by San Shui International Development Co., Ltd, a wholly-owned subsidiary of Jiangsu Jiangyan Economic Development Group Co., Ltd. (“JYED” or the “Company”), and unconditionally and irrevocably guaranteed by JYED. JYED is a wholly-owned subsidiary of Jiangsu Xinkai Investment Group Co., Ltd. (“Xinkai Group”) (Ag-/Stable). The bonds are fully supported by an irrevocable standby letter of credit from Bank of Nanjing Co., Ltd, Taizhou Branch (the “LC Bank”).
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 the LC Bank’s assessment is the Rating Methodology for Banks dated November 2021, available at www.ccxap.com (Rating Methodologies).