Standard & Poor's: Awarding State Grid proposed issuance of Renminbi bonds "A+" long-term issuance rating

On August 7th, Standard & Poor's awarded State Grid Overseas Investment (BVI) Ltd. a long-term issue rating of "A+" for their proposed issuance of senior unsecured bonds denominated in Chinese renminbi. The issuer is a wholly-owned special purpose entity of State Grid Corporation of China (referred to as "State Grid"), and State Grid will provide guarantee for the bonds.