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Group Won AAA Credit Grade Title For The Coal Industry

Jinan, February 2 - The China Coal Industry Association has recently publicized the 2012 annual coal industry AAA credit grade rating list. 11 companies, including Shandong Energy Group and affiliated Linyi Mining Group Co.,Ltd.,Guizhou Mining Co.,Ltd.and Huaheng Mining Company affiliated to Xinwen Mining Group Co.,Ltd., etc. were on the list.

Credit rating for coal enterprises means comprehensive evaluation about credit-compliance capacity and the law-abiding expectancy of social responsibility of enterprise. The subject of evaluation will not be limited to the risk of default and bankruptcy, the qualitative and quantitative analysis about corporate social responsibility and ethical standards will also be conducted in order to satisfy the requirements of government regulation and industry self-regulation. Other purpose of the evaluation also includes protecting the legitimate rights and interests of the business, supporting equality and free competition as well as enhancing risk awareness and sense of responsibility.

The poll by the China Coal Industry Association in accordance with the spirit of the relevant documents of the Ministry of Commerce and the SASAC on industry credit rating, the credit rating evaluation criteria based on the coal industry, enterprise application, review and publicity program to the Top. Up to now, a total of 17 enterprises of Shandong Energy Group were awarded AAA grade credit enterprise title.