News & Events

Hong Kong, 14 July 2026 – China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) has assigned a debt rating of A_g to the proposed CNY bonds to be issued by Shandong Commercial Group Co., Ltd. (“Lushang Group” or the “Company”) (BBB_g+/stable). The bonds are fully supported by an irrevocable standby letter of credit (“SBLC”) from Bank of Beijing Co., Ltd., Jinan Branch (“Bank of Beijing” or the “LC Bank”).

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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 Lushang Group’s rating is the Rating Methodology for General Corporate dated May 2026. The Methodology used in Bank of Beijing’s credit assessment is the Rating Methodology for Banks (November 2021). The Methodologies are available at www.ccxap.com (Rating Methodologies).