Notes on issuance of credit products in the primary market: the first issue of new credit products in the 11th week
Lin Chaohui, Huatai United Securities Co., Ltd New varieties of credit bonds: In terms of credit qualification, 12 Hengyun MTN1 issuers rely on external coal mining for power generation and their volume is small, and AA's main body and debt level are slightly higher. 12 The total economic volume of the region where the issuer of Lin'an Urban Construction Bond is located is small, and the effect of debt credit enhancement is weak. The main body of AA and the debt level of AA+are significantly higher. 12 Jiangquan bonds are issued by a small number of people with a background of private enterprises, and the AA level subjects and debt levels are somewhat high. 12 The number of Pengbo bonds issuers is small, and its private enterprise background is difficult to further expand its business advantages. AA level subjects and debt levels are significantly higher. 12 The number of issuers of residential construction investment bonds is small, Suzhou's economic and financial strength is weak, and the main credit rating of AA is significantly high. Although the main credit qualification of the guarantor Wanbei Coal and Power is closer to AA, the debt level of AA+is significantly higher. 11 The gross profit rate of Changshan bond issuer is low, and its profitability is weak. AA -'s subject credit rating is slightly higher, Changshan Group's credit enhancement effect is weak, and AA level debt is significantly higher. 12 The AA - credit rating of the issuer of Liaoyuan state-owned bonds is moderate. Land mortgage can increase credit to a certain extent, but considering its subject's weak credit qualification, AA+'s debt rating is significantly higher. 12 The total economic scale of Panzhihua City where the issuer of PGIC is located is small, and the general budget revenue level is not high, so the main body and debt level of AA are somewhat high. 12 Xijiang Bond Issuer in Xijiang gold The waterway construction plays a leading role, and its operation can be supported by the Ministry of Transport and the Guangxi Finance Department. However, compared with issuers at the same level in the hydropower industry, the development volume of Xijiang River is small, and the AA level subject and debt level are somewhat high through comprehensive analysis. 12 Zunyi investment bonds are issued by a small number of people, and their financial performance is average. Zunyi's economic aggregate is small, and its financial level is low. On the other hand, Zunyi can obtain more powerful financial support from the superior government, so the AA's main body and debt credit rating are slightly higher.
