Moody's Investors Service upgraded the corporate family rating of Tianqi Lithium Co., Ltd. (hereinafter referred to as "Tianqi Lithium") to "B3” from “Caa1” on July 19, 2022, and senior unsecured bonds, issued by Tianqi Finco Co., Ltd. (overseas wholly-owned subsidiary of Tianqi Lithium) and guaranteed by Tianqi Lithium, was upgraded to "Caa1” from “Caa2”, with rating outlooks positive.

Photo | Moody’s upgraded the corporate family rating of Tianqi Lithium to "B3"

Gerwin Ho, vice president and senior credit officer of Moody's, said the upgrade reflects that it expects the liquidity and capital structure of Tianqi Lithium will improve. The positive outlook shows how well the company is doing, such as the strong recovery of revenue and profitability. It is believed that the company's credit status will be upgraded if this momentum continues.

Tianqi Lithium successfully listed on the Hong Kong Stock Exchange, raising about HK $13 billion on July 13. The company will take this opportunity by joining hands with global partners, with “A+H" as a capital platform, to accelerate the internationalization of business and promote global energy innovation and sustainable development of the industry.

Contributed and published by: Board Office