S&P Upgrades Midea Group's Credit Rating to “A”

On November 15, S&P Global Ratings (S&P) upgraded the credit rating of Midea Group Co., Ltd. (Midea Group) from "A-" to "A". Midea Group now owns the highest credit rating among private manufacturing companies in China, being one of the few internaionally with A or above rating, and is expected to grow faster than the industry in its existing segments and expand into business-oriented products while maintain its strong credit mesasures. Based on its diversified development and enhanced brand competitiveness, Midea Group is expected to see steady growth in operations and a steady increase in market share in the next two years, according to the latest report of S&P.