PENGYUAN INTERNATIONAL

HONG KONG, 17 Jan2018. Pengyuan International has today released its Global Corporate Rating Criteria and Global Insurance Rating Criteria for public consultation. These criteria will be effective immediately on the date of final publication and we intend to complete the review of all affected ratings, if any, within the next six months. We expect no impact on our current rating portfolio.

We would appreciate comments on these draft criteria from investors and other market participants. The request-for-comment versions of these reports and analyst contact details are available via the following link:

Global Corporate Rating Criteria: http://www.pyrating.com/Methodology/Index/10003.html

Global Insurance Rating Criteria: http://www.pyrating.com/Methodology/Index/10005.html

Our Global Corporate Rating Criteria describe our analytical approach to assess the credit risks of all corporate industrial companies and utilities on a global scale. We explain in detail the rating factors that form our view on a corporate issuer’s business and financial profiles, which will be combined to derive a company’s indicative credit score (ICS). We also outline our other analytical considerations, which, together with the ICS, will determine an entity’s Issuer Credit Rating. These criteria do not apply to project finance companies, project developers, commodities trading firms, investment holding companies, and other firms which we believe would be more appropriately analyzed separately. 

Our Global Insurance Rating Criteria set forth the general principles behind Pengyuan’s analytical framework for the global insurance industry. Pengyuan’s Insurer Financial Strength Rating is a globally comparable, forward-looking opinion on an insurance operating company’s ability to repay its policy holder obligations on time and in full. We adopt a principle- and risk-based approach in evaluating an insurer’s credit characteristics. The myriad factors and sub-factors we analyze are grouped into four pillars, namely our proprietary Insurance Industry Stability Index, Enterprise Risk Management, Capital Formation and Capital Adequacy. The criteria apply to life insurers insurers, health insurers and reinsurers.


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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 threating 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 omits 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 ANDMUST 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 threating process. The issuer and its advisors are ultimately responsible for the accuracy of the information provided for threating 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.
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The Company reserves the right to disseminate its credit ratings and reports through its website, the Company’s social media pages and authorized 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 ? 2018 by Pengyuan Credit Rating (Hong Kong) Company Ltd. All rights reserved.

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