News & Events

Hong Kong, 16 April 2024 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) says Pingdu City Development Group Co., Ltd’s (“PDCD” or the “Company”) (BBB_g+/stable) proposed tap issuance on its existing CNY420 million senior unsecured bonds due 2026 will not affect the BBB_g+ rating on the bonds. The bonds are issued by Wansheng International (BVI) Co. Ltd (“Wansheng International”), a subsidiary wholly and indirectly owned by PDCD, and unconditionally and irrevocably guaranteed by 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).