Pengyuan International is a global credit rating agency based in Hong Kong that has been licensed to provide credit rating services to an international client base since 2012. Licensed by the Hong Kong Securities and Futures Commission, Pengyuan International offers high-quality, independent, highly transparent, and globally comparable credit ratings to the capital markets. Since its foundation, Pengyuan International has performed rating actions involving credits across sectors ranging from sovereign, local governments, and local government financing vehicles (LGFVs), to banks, non-bank financial institutions, industrials, real-estate, airlines, automobile companies, and a number of others. Pengyuan International employs a highly knowledgeable and seasoned international analytics team, with our core international analytical executives having an average of at least 15 years’ experience involving investment banking, credit ratings, fixed-income investment, and academia throughout Asia and North America. Pengyuan International was awarded the ‘Rising Star Credit Rating Agency of the Year (2019)’ by The Asset, an integrated multi-media company serving the elite community of leading corporate and financial decisionmakers in Asia. Pengyuan International further won the ‘Outstanding Chinese Credit Rating Agency of the Year 2019’ and ‘Credit Rating Agency of the Year 2019 – LGFV’ from Seresbonds, a leading Chinese global bond market intelligence provider.