Navigation Links
Sinovac's Credit Rating Upgraded to AAZ, Second Highest Rating
Date:10/9/2008

Obtains 10 Million RMB Commercial Bank Loan With Interest Payment Subsidy

BEIJING, Oct. 9 /Xinhua-PRNewswire/ -- Sinovac Biotech Ltd. (Amex: SVA), a vaccine-focused biotech company in China, announced today that the Beijing Zhongguancun Enterprises Credit Promotion Association at the Zhongguancun Science and Technology Park organized an annual Business Credit Rating program. As part of that program, Sinovac Biotech Co. Ltd.'s ("the Company") credit rating was successfully upgraded to AAzc, the second-highest level, from Azc, the third-highest level of nine levels. This available additional capital ensures the Company's expansion of production scale and satisfies the capital demand of its business development strategy. Sinovac's financial department is in active communication with the Zhongguancun Guarantee Company and increased the amount of credit guarantee. Meanwhile, the department is extending cooperation to other banks. Recently, the Company obtained 10 million RMB guaranteed loan from China Merchants Bank Shangdi Branch, which has a solid reputation in China and internationally.

Sinovac has established good credit with the Haidian Science Park of Zhongguancun Science and Technology Garden Zone and with the Regulatory Committees (or Haidian Park), which will subsidize 40% of the interest payment for the above mentioned bank loan, which is the highest standard in the area.

Mr. Weidong Yin, President and CEO, commented, "As the U.S. financial crisis spreads to the global markets, Sinovac will maintain its various capital raising opportunities through its established track record and reputation built in China. No matter how volatile the global financial market is, we will keep executing our expansion strategy. Both credit rating upgrade and bank loans will ensure capital raising sources for business development. Management is confident in the future of the company."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharm
'/>"/>

SOURCE Sinovac Biotech Ltd.
Copyright©2008 PR Newswire.
All rights reserved

1

GOOD

Page: 1 2 3

Related biology technology :

1. Boston Scientific Amends Credit Facility and Prepays $1 Billion on Loan
2. China Medical Technologies to Participate in Credit Suisses 2007 Asian Technology Conference
3. AviaraDx Announces CAP Accreditation of Its Laboratory Operations
4. Angiotech to participate in Bank of America 2007 Credit Conference
5. Sigma-Aldrich Achieves Double Accreditation as a Certified Reference Material Producer Following ISO/IEC 17025 and ISO Guide 34
6. Energy Conversion Devices and United Solar Ovonic Enter Into New $55 Million Secured Credit Facility Agreements
7. Credit-card-sized platform for volatile compound analysis CAREER project goal
8. Nova Biosource Fuels Announces First Funding Under $41 Million Senior Secured Credit Facility
9. GeneNews receives ISO 13485 accreditation
10. Angiotech to participate in Credit Suisse Global Leveraged Finance Conference
11. Ferring Initial Purchase Order and Guaranteed Letter of Credit Launches Five Year Contract
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/20/2013)... Rhythm announced today the results of a ... novel ghrelin agonist for the treatment of diabetic gastroparesis ... RM-131 significantly accelerates early gastric emptying and reduces upper ... diabetic gastroparesis. The findings were presented at the Digestive ... and recently published in Clinical Gastroenterology and ...
(Date:5/20/2013)... Researchers from the Southern University of Denmark have ... the acne causing P.acnes bacteria. Researchers believe found that when ... oxygen deprived location to seek shelter and grow. When an ... ability to live in the open joint areas, causing inflammation ... The best acne treatment ” explains why starting a normal ...
(Date:5/20/2013)... 2013 On 25-28 July, 2013, UPCP ... Paris - the beautiful city of lights. , According ... is revolutionizing the medical world. Understanding and integrating genetic ... hallmark of this transformation. Much of the present medical ... epidemiologic studies of large cohorts that do not take ...
(Date:5/20/2013)... 20, 2013 In Early 2013, ... of biotoxin related illnesses , announced his vision for ... to advance his protocol for treating Chronic Inflammatory Response ... third physician to achieve certification in the Shoemaker Protocol. ... to practice the Shoemaker Protocol in other parts of ...
Breaking Biology Technology:Rhythm Announces Phase 1b Results for Ghrelin Prokinetic RM-131 for Gastroparesis in Patients with Type 1 Diabetes 2Rhythm Announces Phase 1b Results for Ghrelin Prokinetic RM-131 for Gastroparesis in Patients with Type 1 Diabetes 3Adult Acne Treatment, Probiotic Action Shares New Insight How Treating Acne May Help Reduce Body Pain 2The International Congress on Personalized Medicine - Up Close and Personalized 2013 in Paris 2Dr. Ritchie Shoemaker Certifies Third Physician in His Treatment Protocol for Chronic Inflammatory Response Syndrome (CIRS) 2
... EAST NORRITON, Pa., Sept. 14, 2011 Tengion, Inc. (NASDAQ: ... announced that Brian Davis, Vice President Finance and Chief Financial ... Life Sciences Conference on Monday, September 19, 2011, at 1:30 ... presentation can be accessed under "Calendar of Events" in the ...
... a new technique that uses a single UV laser pulse ... method that could help scientists study the mechanical forces at ... lasers are a commonly-used tool for cutting into tissue, but ... a time in a series of steps. If the initial ...
... N.C., Sept. 13, 2011 Microban recently conducted ... planktonic and biofilm growth on High Consistency Rubber ... manufacture of urinary catheters.  Urinary infections are a ... current technologies have had limited success in reducing ...
Cached Biology Technology:Tengion to Present at UBS Global Life Sciences Conference 2Microban Medical Silver Antimicrobial Technologies for HCR Silicone Achieve 5 Log Reductions in Bacteria Growth and Prevent Biofilm Formation 2
(Date:5/18/2013)... MD (May 19, 2013) The AGA Research Foundation ... and Damian Augustyn Award in Digestive Cancer, which will ... of Medicine at the University of Pennsylvania, Philadelphia, as ... in pancreas development, regeneration and cancer progression. , "The ... in honor of two distinguished clinicians and AGA Legacy ...
(Date:5/17/2013)... day, insects provide the white noise of the South, but ... year, the Southern air hangs heavy from the humidity and ... more than 140 species of frogs, toads and salamanders, is ... the ponds and swamps are the auditorium for their symphonic ... and Monitoring Initiative, or ARMI, have front-row seats. ...
(Date:5/17/2013)... iCargo project (Intelligent Cargo in Efficient and Sustainable Global ... to an improvement in the efficiency of intermodal loading ... decision making. It comprises 29 European organisations with experience ... It has a budget totalling 17,000,000 and a duration ... working to specify and develop the semantic components and ...
Breaking Biology News(10 mins):AGA Research Foundation grant furthers digestive cancer research 2Front-row seats to climate change 2Front-row seats to climate change 3Front-row seats to climate change 4New logistics services that will cut energy consumption and CO2 emissions 2
... Babies conceived during a period of famine are at ... new research published in the international journal Addiction. ... GGZ, and Erasmus University Rotterdam studied men and women ... of the Dutch hunger winter. Those whose mothers ...
... is available in German . , A ... researchers of the Robert Koch Institute (Berlin), the Max ... Suisse des Recherches Scientifiques (Ivory Coast) confirms the disease ... from humans to wild apes. The study also showed ...
... Learning and Memory at MIT report in the Jan. 24 ... to see, for the first time, the effect of blocking ... This revolutionary method allowed Susumu Tonegawa, Picower Professor of ... major memory-forming circuit in the brain affected learning and memory ...
Cached Biology News:Hungry mothers risk addiction in their adult children 2Great apes endangered by human viruses 2New MIT tool probes brain circuits 2
...
...
Mouse monoclonal [ICRF 44] to Integrin alpha M...
... system for small volumes of precious ... general liquid-handling research applications. ... of precious drugs. Switch between four ... a single tip. Minimize cross-contamination ...
Biology Products: