S&P Global (China) Ratings--Panda Bond Methodology This methodology represents S&P Global (China) Ratings’ approach to considering the analysis of Panda bonds. This methodology may apply to ratings where an offshore issuer is issuing renminbi-denominated securities into the Chinese domestic market. Issuers may include offshore entities associated with a group predominantly domiciled in China, and may also be applicable for wholly foreign domiciled entities issuing into China.
This methodology outlines the principles with which we may consider the credit quality of the issuer for the purposes of our S&P Global (China) Ratings credit opinion.
