CCXAP assigns Ag to Zhengding State-owned Assets Holding and Operating Group Co., Ltd.’s proposed guaranteed CNY bonds | News & Events | China Chengxin (Asia Pacific) Credit Ratings Company Limited

2025.9.10

CCXAP assigns Ag to Zhengding State-owned Assets Holding and Operating Group Co., Ltd.’s proposed guaranteed CNY bonds

Hong Kong, 10 September 2025 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has assigned a senior unsecured debt rating (guaranteed) of A_g to the proposed guaranteed CNY bonds to be issued by Zhengding State-owned Assets Holding and Operating Group Co., Ltd. (“ZDSH” or the “Company”) (BBB_g /stable). The bonds will be unconditionally and irrevocably guaranteed by Chongqing Sanxia Financing Guarantee Group Co., Ltd. (“SXFG”).

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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. Methodologies used in this rating are the Rating Methodology for China’s Local Infrastructure Investment and Financing Companies dated July 2022 and the Rating Methodology for Financial Guarantors dated January 2022, available at www.ccxap.com (Rating Methodologies).