News & Events

Hong Kong, 21 October 2024 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) is concerned about the equity transfer of Shandong Luqiao Group Co., Ltd. (“SDLQ” or the “Company”) (Ag-/stable). We believe that the equity transfer has resulted in a significant decline in the Company's business scale, total assets, total operating income and capital strength, which could have a certain negative impact on its credit profile. CCXAP will continue to monitor subsequent changes in SDLQ, and assess the impact of the equity transfer on its rating.

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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 Engineering and Construction Companies dated December 2016, available at www.ccxap.com (Rating Methodologies).