The Issuer Credit Rating reflects a high possibility that China Great Wall Asset Management Co., Ltd. (“China Great Wall”) would provide very strong support to Great Wall Intl if needed, in light of its full ownership of Great Wall Intl, Great Wall Intl’s strategic importance as the only overseas platform of China Great Wall, and their high integration and linkage.
The Stable Outlook reflects our expectation that Great Wall Intl’s strategic importance would remain intact while China Great Wall will continue to ensure Great Wall Intl’s stable operation.