News & Events
Hong Kong, 18 January 2024 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has assigned a senior unsecured debt rating of BBBg+ to the proposed offshore bonds to be issued by Wansheng International (BVI) Co. Ltd (“Wansheng International”), an indirect wholly-owned subsidiary of Pingdu City Development Group Co., Ltd (“PDCD”) (BBBg+/ Stable). The bonds are expected to be unconditionally and irrecoverably guaranteed by PDCD, or carry keepwell deeds and equity interest purchase undertakings from PDCD.
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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).