Huaneng Obtained Top International Credit Ratings

On September 27th, three major international rating agencies, Fitch, Moody's, and S & P, officially issued announcements, giving China Huaneng Group Co., Ltd. A, A2, and A- credit ratings recpectively. The rating outlook is stable. This is the first time Huaneng participate in an international rating. Fitch and Moody’s ratings are only one sub-grade lower than the national sovereign rating, and S & P rating is two sub-grades lower than the national sovereign rating. This reflects rating agencies’s high degree of recognation on Huaneng’s credit rating.

International credit rating is a comprehensive rating conducted by agencies to review, compare, and comprehensively evaluate a company's ability to fulfill its economic commitments and its trustworthiness. For a long time, Fitch, Moody's, and S&P credit rating analysis have been widely trusted by investors in the international capital market. The three institutions highly value Huaneng and believe that Huaneng has a solid market position as one of the five major SOE focusing on power generation. Huaneng has a broad geographical layout and covers all provinces in mainland China. It has a diversified power supply structure with clean energy production capacity leading the the industry. At the same time, as a core state-owned enterprise, Huaneng provides about one-tenth of China's power supply, which is highly systemically important in ensuring China's power and energy security.

The high-quality international ratings fully reflected that the market had a posivtive recognition on Huaneng’s role in the national economic development and people’s livelihood, in tems of the group company's “six new enhancements” and “two breakthroughs” structural transformation strategy, future development prospects, and relevant operating financial indicator, which is benefitial to implementing the company’s “Going Globle” strategy, improving the brand awareness in the overseas market, reducing international financing cost, and optimizing globle investments.