(13 June 2017 – Hong Kong) China Aoyuan Property Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883), a renowned property developer in China, is pleased to announce that the Company’s corporate credit rating has been upgraded to “AA+” from “AA” by United Credit Ratings in China with a “Stable” outlook. 

 

Aoyuan management commented, “Benefiting from Aoyuan’s robust sales growth in recent years and sound credit profile, Aoyuan became the only PRC developer in 2016 whose credit rating outlook was upgraded to ‘Positive’ by all three major international rating agencies, namely Moody’s, Standard & Poor’s and Fitch Ratings. Aoyuan’s corporate credit rating was further upgraded to ‘BB-’ and ‘B1’ by Fitch Ratings and Moody’s, respectively. The upgrade of Aoyuan’s domestic corporate credit rating by the United Credit Ratings reaffirmed that Aoyuan’s comprehensive strength and profitability are well recognized by onshore and offshore capital markets. Looking forward, Aoyuan will strive to achieve rapid sales growth while maintaining its disciplined land acquisition and healthy financial profile, thus delivering satisfactory returns to our shareholders and investors.”