Core Viewpoint - The rating agency China Chengxin International has maintained an "AA" rating for Xiangtan Electric Chemical Co., Ltd. regarding its convertible bond issuance, reflecting the company's strong market position and financial stability [1] Group 1: Company Performance - Xiangtan Electric Chemical is recognized as a leading enterprise in the electrolytic manganese dioxide industry, maintaining a leading market share in manganese battery business during the tracking period [1] - The company's operating profit has seen a slight increase, while its debt scale has been continuously decreasing, indicating improved financial leverage [1] Group 2: Financial Stability - The company has sufficient bank credit lines and smooth financing channels, which support its credit level [1] - The credit level of Xiangtan Electric Chemical is expected to remain stable over the next 12 to 18 months [1] Group 3: Market Risks - The agency has noted significant price fluctuations in raw materials and main products, as well as changes in investment income, which could impact the company's profitability stability [1] - The industry is facing an oversupply situation, which may affect the future market development of the company's main products [1] - The potential impact of the returns from the projects funded by the convertible bonds on the company's operations and overall credit status is also a concern [1]

Core Viewpoint - The article highlights the recognition of outstanding contributions by individuals and teams within China Orient Asset Management Co., Ltd. for the year 2024, emphasizing the importance of high-quality development and the role of exemplary performance in motivating the workforce [4][5]. Group 1: Recognition of Achievements - Dongfang Jincheng was awarded the title of "Advanced Unit" for its exceptional performance in areas such as party leadership, business expansion, risk control, and service to the real economy [5][16]. - Two employees, Tian Yujie and Wang Jiaqing, received the "Advanced Worker" honor for their dedication and outstanding contributions in their respective roles [5][6]. Group 2: Performance Highlights - Under the leadership of Tian Yujie, the team achieved the highest revenue in the region for 2024, marking a record of four consecutive years of leading performance [8]. - The management adopted a "small team combat" approach, enhancing collaboration and efficiency in marketing efforts [9]. Group 3: Adaptability and Service Excellence - The company transitioned from aggressive expansion to ecological cultivation, fostering an open management style that encourages exploration of diverse paths [10]. - Wang Jiaqing emphasized the importance of professional knowledge and timely responses to client needs, maintaining a high performance ranking in her department for four consecutive years [13][14]. Group 4: Future Outlook - Dongfang Jincheng aims to continue fulfilling its responsibilities as a state-owned rating agency, optimizing its credit rating system, and enhancing risk identification and value discovery capabilities [16].

波黑联通社8月5日报道。国际评级机构标普（S&P）确认波黑主权信用评级为"B+"，展望维持"稳 定"。标普在最新报告中强调，波黑政府综合财政状况仍是其信用基本面的核心优势。预计2025-2028年 间年均财政赤字将稳定在GDP的1%以下，政府净债务率于2028年稳定在GDP的21%。（驻波黑使馆经 商处） （原标题：标普维持波黑B+信用评级） ...

Core Viewpoint - Sichuan Kelun Pharmaceutical Co., Ltd. has received a credit rating of AAAsti from China Chengxin International Credit Rating Co., Ltd., indicating a stable outlook for the company's creditworthiness [1] Group 1: Credit Rating - The credit rating report evaluates the company's technological innovation competitiveness, financial risk, future forecasts, and ESG factors [1] - The effective period of the credit rating is from August 6, 2025, to August 6, 2026 [1]

Core Viewpoint - Fitch Ratings has downgraded Intel's long-term credit rating to "BBB" with a negative outlook, indicating that it is close to junk status and facing significant operational pressures due to market competition and slowing demand [2]. Group 1: Credit Rating Changes - Fitch has lowered Intel's rating from "BBB+" to "BBB," which is only two levels above junk status [2]. - Standard & Poor's had previously downgraded Intel's credit rating to "BBB" in December 2024, while Moody's downgraded it from "A1" to "Baa1" in August 2023, with a negative outlook [2]. Group 2: Market Challenges - Intel is facing increased competition from rivals such as NXP, Broadcom, and AMD, which is fragmenting its market share [2]. - The demand environment for consumer electronics and enterprise needs is growing more challenging than previously expected, further pressuring Intel's operations and profitability [2]. Group 3: Future Outlook - To regain its previous credit rating level, Intel will need stronger terminal market performance and successful new product launches within the next 12 to 24 months, along with achieving net debt reduction targets [2].

惠誉表示："信用指标仍然疲软，需要更强劲的终端市场、成功的产品推广，以及未来12-24个月的净债 务削减，才能使EBITDA杠杆率恢复到与评级一致的水平。" 惠誉补充道，英特尔更为灵活的代工策略将未来资本支出与已确定的客户需求挂钩，"这是一个净信贷 利好因素"，但这也凸显了该公司技术路线图所带来更高的执行风险。 该评级机构还指出，来自恩智浦(NXPI.US)、博通(AVGO.US)以及AMD(AMD.US)等同行的竞争日益激 烈。 （原标题：惠誉下调英特尔(INTC.US)信用评级至"BBB"，展望"负面"） 智通财经APP获悉，惠誉评级将英特尔(INTC.US)的长期发行人违约评级(IDR)和高级无抵押债券评级 从"BBB+"下调至"BBB"，仅比垃圾级高出两个级别，并确认其短期IDR和商业票据评级为"F2"。惠誉 还表示，英特尔的评级展望为"负面"，反映出需求环境比此前预期的更为严峻，这限制了该科技巨头的 盈利增长。 惠誉还表示，鉴于台积电(TSM.US)拥有更出色的自由现金流状况和良好的信用指标，英特尔在运营和 财务方面仍逊于台积电。 不过，惠誉称英特尔的流动性状况"稳健"。截至6月28日，英特尔持有2 ...

Core Viewpoint - Fitch downgraded Intel's credit rating from BBB+ to BBB with a negative outlook, indicating significant challenges in maintaining market demand and financial stability [1][3] Group 1: Credit Rating and Financial Challenges - Intel's credit rating downgrade places it just two notches above junk status, highlighting the company's struggles [1] - The company reported substantial losses in its recent Q2 FY2025 earnings, with a stock price decline of 11.36% over the past month, reducing its market capitalization to $85.3 billion [2] - Despite a slight revenue recovery, Intel's massive losses and restructuring efforts remain focal points for market observers [2] Group 2: Competitive Landscape - Intel faces increasing competition from rivals such as NXP Semiconductors, Broadcom, and AMD, which exacerbates its operational pressures [3] - The demand growth in the global consumer electronics and enterprise markets is slowing, further complicating Intel's recovery efforts [3] - Fitch noted that while Intel holds a strong market position in personal computers and traditional enterprise servers, it faces fierce competition from Qualcomm and AMD in the PC sector [3] Group 3: Financial Health and Outlook - Fitch analysts indicated that Intel's credit metrics remain weak, and the company must improve its end-market performance, successfully upgrade products, and reduce net debt over the next 12-14 months to regain its previous rating [3] - Intel's liquidity is described as "solid," with $21.2 billion in cash, cash equivalents, and short-term investments, along with $7 billion in unused credit as of June 28 [3] - Previous downgrades by S&P Global and Moody's also reflect ongoing concerns about Intel's financial stability and operational execution risks [4]

Group 1 - The core viewpoint of the news is that Dongying City Urban Asset Operation Co., Ltd. has received an "AA+" rating from China Chengxin International, indicating strong economic and financial growth in Dongying City, along with robust industrial development and significant potential support capabilities [1][2] - Dongying City Urban Asset Operation Co., Ltd. was established on November 14, 2003, with an initial registered capital of 126 million yuan, which has increased to 1.456 billion yuan by the end of 2024 due to multiple capital increases and equity transfers [2] - The company is primarily responsible for urban development and public utility investment operations in Dongying City, with a focus on urban development and regional gas supply, while also engaging in real estate and trade businesses [2] Group 2 - The ownership structure of the company includes Dongying City Urban Construction Development Group Co., Ltd. holding 74.8626% and Dongying City Land and Mineral Development Service Center holding 25.1374%, with the actual controller being the Dongying Municipal Government State-owned Assets Supervision and Administration Commission [2] - China Chengxin International anticipates that the credit level of Dongying City Urban Asset Operation Co., Ltd. will remain stable over the next 12 to 18 months [2]

Core Viewpoint - Zhuhai Gree Group Co., Ltd. has received an "AAA" rating for its 2025 first phase medium-term notes tracking rating from China Chengxin International, indicating strong creditworthiness and stability in the near future [1][2] Group 1: Rating and Financial Stability - The tracking rating maintains the previous conclusions on the entity and debt, reflecting the company's strong political and economic position in Zhuhai, with economic indicators at the upper level in Guangdong Province [1] - The company plays a significant role in the operation of state-owned capital investment in Zhuhai, with a high degree of correlation to the Zhuhai municipal government, which shows a strong willingness to support the company [1] - The company's investment portfolio is diverse with low risk levels and good liquidity, contributing to its stable credit rating [1] Group 2: Future Outlook and Considerations - China Chengxin International expects the credit level of Zhuhai Gree Group to remain stable over the next 12 to 18 months [2] - Attention is needed regarding the implementation of the company's capital injection plans and their impact on its main business and financial status, as well as the recovery of funds from subsidiaries like Gree Financial Investment Management Co., Ltd. [1] - The company faces challenges such as rapid debt growth, the need for structural optimization, and significant capital expenditure pressures that could affect its overall operational and credit status [1]

来源：金融界 本次跟踪维持主体及债项上次评级结论，主要基于莱商银行股份有限公司（以下称"莱商银行"或"该 行"）在莱芜本地较为重要的市场地位、发展域外业务降低区域集中度风险并为业务的持续发展拓展空 间等信用优势。同时中诚信国际也关注到莱商银行面临的诸多挑战，包括盈利能力有待提高、信贷资产 质量面临下行压力以及投资资产风险暴露加大信用和流动性风险管控难度等。此外，本次评级也考虑了 山东省政府及济南市政府对该行的支持。 中诚信国际认为，莱商银行股份有限公司信用水平在未来12~18个月内将保持稳定。 2025年7月31日，中诚信国际公布评级报告，莱商银行股份有限公司2020年无固定期限资本债券跟踪评 级获"AA-"评级。 ...