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CCXAP assigns Jinke Property Group Co., Ltd.’s US dollar-denominated senior notes final BBg+ rating

Hong Kong, 28 May 2021 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has assigned Jinke Property Group Co., Ltd.’s (“Jinke Property” or the “Company”) (BBg+/Stable) USD325 million 6.85% senior notes due 2024 a final rating BBg+.


The notes are senior obligations of the Company. The notes are at least pari passu in right of payment with all other present and future unsecured and unsubordinated obligations of the Company. The Company intends to use the net proceeds to refinance existing medium to long-term indebtedness due within one year.


CCXAP’s final rating on the notes follows Jinke Property’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 20 May 2021.


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).