News & Events

Hong Kong, 14 April 2022 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has assigned Yangzhou Economic and Technological Development Zone Development (Group) Co. Ltd.’s (“YETD” or the “Company”) (BBB_g+/stable) USD300 million 4% green bonds due 2025 a final BBB_g+ rating.

The bonds constitute direct, unconditional, unsubordinated, and unsecured obligations of YETD, 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 refinancing YETD’s existing indebtedness in accordance with the Green Finance Framework and the NDRC Certificate.

CCXAP’s final rating on this debt obligation follows YETD'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 6 April 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).