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CCXAP assigns Yango Group Co., Ltd.’s US dollar-denominated senior green notes final BBg rating

Hong Kong, 4 June 2021 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has assigned Yango Group Co., Ltd.’s (“Yango” or the “Company”) (BBg/Stable) USD290 million 7.875% senior green notes due 2024 a final rating BBg. The notes are issued by Yango Justice International Limited (the “Issuer”), a wholly-owned subsidiary of Yango, and unconditionally and irrevocably guaranteed by Yango.


The notes are senior obligations of the Issuer and Yango. The notes are at least pari passu in right of payment with all other unsecured, unsubordinated obligations of the Issuer and Yango. The notes are issued as “Green Bonds” under the Company’s Green Finance Framework. The Company intends to use the net proceeds for refinancing its existing offshore indebtedness in accordance with its Green Finance Framework.


CCXAP’s final rating on the notes follows Yango’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 27 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).