CCXAP upgrades Jiangsu Yueda Group Co., Ltd.’s long-term credit rating to BBBg, with stable outlook | News & Events | China Chengxin (Asia Pacific) Credit Ratings Company Limited

2023.5.10

CCXAP upgrades Jiangsu Yueda Group Co., Ltd.’s long-term credit rating to BBBg, with stable outlook

Hong Kong, 10 May 2023 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has upgraded the long-term credit rating of Jiangsu Yueda Group Co., Ltd. (“Jiangsu Yueda” or the “Company”) to BBBg from BBBg-, with stable outlook. outlook; and its senior unsecured debt rating to BBBg from BBBg-. The upgrade reflected the improving quality of the Company’s investment portfolio and our expectation of solid support from the Yancheng Municipal Government to be sustained.

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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 Investment Holding Companies dated December 2016, available at www.ccxap.com (Rating Methodologies).