PENGYUAN INTERNATIONAL

HONG KONG. 25 February, 2019. Pengyuan International (‘PENGYUAN’) is very pleased to become a member of the Hong Kong Green Finance Association and an observer of the Green Bond Principles (‘GBP’).

As a credit rating agency, Pengyuan International is committed to foster the development of the fixed income market by providing independent and objective credit-related opinions and research to market participants. Sustainability has become a high priority for issuers to respond to stakeholder demands for environmental, social and governance (“ESG”) goals; as such, PENGYUAN has designed its Green Evaluation Criteria as a tool for issuers, investors, and other market participants to decide whether a debt instrument’s green attributes are consistent with their internal environmental objectives.

Our green evaluation framework is structured with reference to the Green Bond Principles (GBP), which are a set of voluntary process guidelines for green bond issuance. The GBP have four core components: use of proceeds, process for project evaluation and selection, management of proceeds, and reporting. These components are the foundation of our scoring system, which consists of factors and sub-factors intended to discern a debt instrument’s potential contribution to a low-carbon and climate-resilient society.

The request-for-comment version of the Green Evaluation Criteria and analyst contact details are available via the following link: https://www.pyrating.com/Methodology/Index/10002.html

We would appreciate comments on these criteria from investors and other market participants.

 

About Hong Kong Green Finance Association (‘HKGFA’)

The Hong Kong Green Finance Association (HKGFA) brings together the talent and expertise of financial institutions and green businesses in Hong Kong. The aim and mission of the HKGFA is to gather industry experts and provide policy suggestions to the HKSAR Government and other regulators in developing green finance in the city. The HKGFA will promote concepts of green finance and green investment. In addition, the association will lead research and development of green finance products, methodologies and tools. =

 

About the Green Bond Principles

The Green Bond Principles (GBP), updated as of June 2018, are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the Green Bond market by clarifying the approach for issuance of a Green Bond. The GBP are intended for broad use by the market: they provide issuers guidance on the key components involved in launching a credible Green Bond; they aid investors by ensuring availability of information necessary to evaluate the environmental impact of their Green Bond investments; and they assist underwriters by moving the market towards standard disclosures which will facilitate transactions

         

ANALYST CONTACTSMEDIA CONTACT
OTHER ENQUIRY

Stanley Tsai, CFA

stanely.tsai@pyrating.com 

+852 3615 8340


Cyrus Chan

cyrus.chan@pyrating.com

+852 3615 8319


Chief Analytics Officer

Tony Tang

tony.tang@pyrating.com

+852 3615 8278

 

media@pyrating.com
contact@pyrating.com

 

DISCLAIMER

 

Pengyuan Credit Rating (Hong Kong) Company Ltd (“Pengyuan International”, “Pengyuan”, “the Company”, “we”, “us”, “our”) publishes credit ratings and reports based on the established methodologies and in compliance with the rating process. For more information on policies, procedures, and methodologies, please refer to the Company’s website www.pyrating.com. The Company reserves the right to amend, change, remove, publish any information on its website without prior notice and at its sole discretion.

All credit ratings and reports are subject to disclaimers and certain limitations. CREDIT RATINGS ARE NOT FINANCIAL OR INVESTMENT ADVICE AND MUST NOT BE CONSIDERED AS A RECOMMENDATION TO BUY, SELL OR HOLD ANY SECURITIES AND DO NOT ADDRESS/REFLECT MARKET VALUE OF ANY SECURITIES. USERS OF CREDIT RATINGS ARE EXPECTED TO BE TRAINED FOR INDEPENDENT ASSESSMENT OF INVESTMENT AND BUSINESS DECISIONS.

CREDIT RATINGS ADDRESS ONLY CREDIT RISK. THE COMPANY DEFINES THE CREDIT RISK AS THE RISK THAT THE RATED ENTITY MAY NOT MEET ITS CONTRACTUAL AND/OR FINANCIAL OBLIGATIONS AS THEY BECOME DUE. CREDIT RATINGS MUST NOT BE CONSIDERED AS FACTS OF A SPECIFIC DEFAULT PROBABILITY OR AS A PREDICTIVE MEASURE OF A DEFAULT PROBABILITY. Credit ratings constitute the Company’s forward-looking opinion of the credit rating committee and include predictions about future events which by definition cannot be validated as facts.

For the purpose of rating process the Company obtains sufficient quality factual information from sources believed by the Company to be reliable and accurate. The Company does not perform an audit and undertakes no duty of due diligence or third-party verification of any information it uses during the rating process. The issuer and its advisors are ultimately responsible for the accuracy of the information provided for the rating process.

Users of the Company’s credit ratings should refer to the rating symbols and definitions published on the Company’s website. Credit ratings with the same rating symbol may not fully reflect all small differences in the degrees of risk, because credit ratings are relative measures of the credit risk.

NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS OR COMPLETENESS OF ANY INFORMATION GIVEN OR MADE BY THE COMPANY IN ANY FORM OR MANNER. In no event shall the Company, its directors, shareholders, employees, representatives be liable to any party for any damages, expenses, fees, or losses in connection with any use of the information published by the Company.

The Company reserves the right to take any rating action for any reasons the Company deems sufficient at any time and in its sole discretion. The publication and maintenance of credit ratings are subject to availability of sufficient information.

The Company does not receive compensation for its unsolicited credit ratings. The rated entity did not participate in the rating process. The unsolicited credit rating has been disclosed to the rated entity or to its related party and, following such disclosure, the credit rating has not been amended before being issued.

The Company reserves the right to disseminate its credit ratings and reports through its website, the Company’s social media pages and authorised third parties. No content published by the Company may be modified, reproduced, transferred, distributed or reverse engineered in any form by any means without the prior written consent of the Company.

The Company’s credit ratings and reports are not indented for distribution to, or use by, any person in a jurisdiction where such usage would infringe the law. If in doubt, please consult the relevant regulatory body or professional advisor to ensure compliance with applicable laws and regulations.

 

Copyright @ 2019 by Pengyuan Credit Rating (Hong Kong) Company Ltd. All rights reserved.


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