TERMS AND CONDITONS
CSPI Credit Ratings Company Limited in this website may be referred as “CSPI Ratings”, “Pengyuan” or “Company”. CSPI Ratings is licensed under the Securities and Futures Ordinance (Cap. 571) to carry on business in Type 10 (Providing credit rating services) regulated activity, with Securities and Futures Commission of Hong Kong (“SFC”), CE no. AZN584.
The Company may update these Terms and Conditions and Disclaimers (“Terms and Conditions”) from time to time without notice. Hence, you shall be responsible to check these Terms and Conditions periodically. The content of the Company’s website is subject to change without notice.
The Company controls and maintains this website from Hong Kong. The Company makes no representation that the material and information contained on this website is appropriate or available for use in other locations/jurisdictions. These Terms and Conditions are governed by Hong Kong Law and any dispute shall be subject to the exclusive jurisdiction of the Hong Kong courts.
The Company will take all reasonable measures to ensure that its website is available 24 hours a day, the Company will not be liable if for any reason the website is unavailable at any time or for any period. Access to this website may be suspended temporarily and without notice in a variety of circumstances, such as system failure, maintenance or for reasons beyond the Company’s control. The Company does not accept any responsibility for direct or indirect loss or damages arising from any cause of use in connection with its website.
Nothing on this website should be construed as an offer to sell or a solicitation of an offer to purchase any securities. The material and information contained on this website is provided for general information only and should not be used as abasis for making business decisions. You are recommended to obtain professional advice where appropriate.
All credit ratings and reports are subject to disclaimers and limitations. CREDIT RATINGS AND REPORTS ARE NOT FINANCIAL OR INVESTMENT ADVICE AND MUST NOT BE CONSIDERED AS OUR COMMENDATION TO BUY, SELL OR HOLD ANY SECURITIES AND DO NOT ADDRESS/REFLECT MARKET VALUE OF ANY SECURITIES. USERS OF CREDIT RATINGS AND REPORTS ARE EXPECTED TO BETRAINED FOR INDEPENDENT ASSESSMENT OF INVESTMENT AND BUSINESS DECISIONS. You are responsible for reading the full disclaimers provided at the end of each credit rating or research report.
CREDIT RATINGS ADDRESS ONLY CREDIT RISK. THE COMPANY DEFINES THE CREDIT RISK AS THE RISK THAT THE RATED ENTITY MAY NOT MEET ITS CONTRACTUAL AND/OR FINANCIAL OBLIGATIONS AS THEY BECOME DUE. CREDIT RATINGS MUST NOT BE CONSIDERED AS FACTS OF A SPECIFIC DEFAULT PROBABILITY OR AS A PREDICTIVE MEASURE OF A DEFAULT PROBABILITY. Credit ratings constitute the Company’s forward-looking opinion of the credit rating committee and include predictions about future events which by definition cannot be validated as facts.
For the purpose of the rating process, the Company obtains sufficient quality factual information from sources which are believed by the Company to be reliable and accurate. The Company does not perform an audit and undertakes no duty of due diligence or third-party verification of any information it uses during the rating process. The issuer and its advisors are ultimately responsible for the accuracy of the information provided for the rating process.
For the purpose of research, the Company uses public data and information available to the authors at the time of publication of the research. The Company obtains sufficient quality factual information from public sources believed by the Company to be reliable and accurate. The Company does not perform an audit and undertakes no duty of due diligence or third-party verification of any information it uses in the research or other publications. The Company is not responsible for any omissions, errors or inconsistencies of the public information used in the research or other publications.
Users of the Company’s credit ratings shall refer to the rating symbols and definitions published on the Company’s website. Credit ratings with the same rating symbol may not fully reflect all small differences in the degrees of risk, because credit ratings are relative measures of the credit risk.
NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS OR COMPLETENESS OF ANY INFORMATION GIVEN OR MADE BY THE COMPANY IN ANY FORM OR MANNER. In no event shall the Company, its directors, shareholders, employees, representatives be liable to any party for any damages, expenses, fees, or losses in connection with any use of the information published by the Company.
The Company reserves the right to take any rating action for any reasons the Company deems sufficient at any time and in its sole discretion. The publication and maintenance of credit ratings are subject to availability of sufficient information.
The Company may receive compensation for its credit ratings, normally from issuers, underwriters or obligors. The information about the Company’s fee schedule can be provided upon the request.
Company’s research usually focuses on observing trends from the credit markets. The Company does not receive compensation for its research.
The Company reserves the right to disseminate its credit ratings and reports through its website, the Company’s social media pages and authorised third parties. No content published by the Company may be modified, reproduced, transferred, distributed or reverse engineered in any form by any means without the prior written consent of the Company.
The Company’s credit ratings and reports are not indented for distribution to, or use by, any person in a jurisdiction where such usage would infringe the law. If in doubt, please consult the relevant regulatory body or professional advisor and ensure compliance with applicable laws and regulations.
In the event of any dispute, the Company shall have absolute discretion in all matters relating to resolving the dispute, including but not limited to the interpretation of these Terms and Conditions.
This website contains material including text, photographs, images, videos and sound, which is protected by copyright and/or other intellectual property rights. All copyright and other intellectual property rights in this website are either owned by the Company or have been licensed to it by the owner(s) of those rights so that it can use this material as part of this website.
Unless otherwise stated, all copyright and other intellectual property rights in the materials on this website belong to the Company. Such materials may be downloaded or printed for personal use or for use within an organization but may only be used for personal viewing purposes or for viewing within that organization. Such materials may not be reproduced for or distributed to third parties, or used for commercial purposes, without the Company's prior written consent.
The distribution of this website's material may be restricted by law in certain jurisdictions. It is your responsibility to find out what those restrictions are and observe them.
Any hyperlink created should be set to point to the relevant webpage of the Company’s website rather than featuring the content itself, so as to ensure that the updated version is accessed.
The Company is committed to comply with the requirements of the Hong Kong Personal Data (Privacy) Ordinance (PDPO).
The Company may collect and hold personal data as per your permission.
(a) The information you provide in the “Contact us” section, the “Register” or other similar function on this website is used by the Company to respond to or handle your enquiries or other matters. The personal data will not be used for any other purposes, disclosed or transferred without your consent, unless such use, disclosure or transfer is permitted or required by law.
(b) Personal data collected from subscribers is used by the Company and other companies from Pengyuan group of companies to inform you and to send you information as per your requests. The personal data will not be used for any other purposes, disclosed or transferred without your consent unless such use, disclosure or transfer is permitted or required by law.
(c) Personal data provided for complaint purposes will be used, disclosed or transferred only for purposes related to the complaint (for example, it may need to be disclosed to the person against whom a complaint has been made or to the regulator). If the information provided is inaccurate or incomplete, consideration of the complaint may be affected.
(d) Personal data collected from job applicants who applied through our website is used for recruitment related purposes only, and will not be used for any other purposes, disclosed or transferred without your consent, unless such use, disclosure or transfer is permitted or required by law.
Different retention periods apply to the various kinds of personal data collected and held by the Company.
(a) Personal data provided under the “Contact us” section will be deleted 90 days after any required action has been completed.
(b) Personal data provided for the subscription / registration service will be deleted 90 days after you unsubscribe from our services.
(c) Personal data provided for complaint purposes is retained for such period as may be necessary for the proper handling of the complaint and to satisfy the regulatory requirements.
(d) In relation to personal data collected from unsuccessful job applicants who applied through our website, such personal data will be destroyed after six months from the date of the application deadline.
Under the Hong Kong Personal Data (Privacy) Ordinance, individuals have the right to request access to and correction of their personal data. If you wish to access, correct or delete your personal information held by the Company, please send your enquiry or request marked “Personal information enquiry” by post or by email. When handling a data access or correction request, the Company will check the identity of the requestor.
The Company would like you to follow simple interaction rules to make communication pleasant for participants:
(1) The Company doesn’t allow the use of aggressive, offensive or inappropriate. Such comments or posts will be removed.
(2) The Company reserves the right to remove comments or posts that are not related to the discussed topic.
Social media plug-in are software codes / scripts that enable specific functionality on social media platforms. The common example is a “Share” button. The Company’s website may contain plug-ins to social networks including, but not limited to, Facebook, Twitter and LinkedIn.
The Company’s website may include links to external websites. These links are provided in order to help you find relevant websites, services and/or products which may be of interest to you quickly and easily. It is your responsibility to decide whether any services and/or products available through any of these websites are suitable for your purposes. The Company is not responsible for the owners or operators of these websites or for any goods or services they supply or for the content of their websites.
The Company is not liable for the content of external web links and webpages provided or mentioned in its websites. Nor is it responsible for the content or operation of external websites. References and links to any such sites shall not be taken as an endorsement by the School of opinions expressed or services provided at those sites.
The Company does not allow a link to its website if the host website contains any material which is defamatory, pornographic, obscene, or is in any way in breach of the laws of the Hong Kong Special Administrative Region or infringes any intellectual property rights or other rights.
You shall not attempt to gain unauthorized access to any feature of the website, or any other systems or networks connected to the website by hacking or any other illegitimate means.
You shall not probe, scan or test the vulnerability of the website or any network connected to the website, nor breach the security or authentication measures on the website or any network connected to the website.
You shall not take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the website, or any systems or networks connected to the website.
You shall not use any device, software or routine to interfere or attempt to interfere with the proper working of the Site or any transaction being conducted on the Site, or with any other person’s use of the Site.
You are responsible for ensuring confidentiality of the information of your account, including your password. You agree to notify the Company immediately of any unauthorized use of your account.
Email messages sent to the Company via internet cannot be guaranteed to be completely secure. The Company is not responsible for any damages incurred by you if you send a message to the Company, or if the Company sends a message to you at your request via internet. Due to the nature of the internet data transmission may be subject to interruption, delayed transmission and incorrect data transmission. The Company is not liable for malfunctions in communications facilities whether or not under its control that may affect the accuracy or timeliness of messages you send.
You have sole responsibility for adequately protecting and backing up of data and/or equipment and for undertaking reasonable and appropriate precautions to scan for malicious software.
Updated by CSPI Ratings on 17 July 2023.