News & Events
Hong Kong, 10 November 2023 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has upgraded the long-term credit rating of Jiangsu Yungang Investment Development Co., Ltd. (“YGID” or the “Company”) to BBBg- from BBg+, with stable outlook. The rating upgrade reflects our expectation of stronger support from the local government to the Company after the change of its shareholding, given its good business prospects along with the development of Lianyun District.
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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 China’s Local Infrastructure Investment and Financing Companies dated July 2022, available at www.ccxap.com (Rating Methodologies).