[ET Net News Agency, 29 September 2020] Moody's Investors Service has affirmed the A3
issuer rating of China Railway Group Limited (CRG)(00390). At the same time, Moody's has
affirmed the A3 senior unsecured rating on the bonds issued by China Railway Xunjie Co.,
Limited and guaranteed by CRG.
The outlook on the ratings remains stable.
"The affirmation of CRG's ratings reflects the company's leading role in China's railway
construction and infrastructure development; its high revenue visibility, given its very
strong order backlog; and projected solid earnings growth, which will partly mitigate its
rising debt level," said Chenyi Lu, a Moody's Vice President and Senior Credit Officer.
(KL)