Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating with Stable Outlook to Boxing County Finance Investment Group Co., Ltd. (“BFIG” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Boxing County (“the Boxing government”) would provide strong support to BFIG if needed, in light of its full ownership of BFIG, BFIG’s strategic importance as an important local investment and development company (“LIDC”) that is responsible for project development, industrial investment and city operation in Boxing County, Binzhou City (“Boxing”), and the linkage between the Boxing government and BFIG, including appointment and supervision of the senior management, strategic alignment, major investment and financing plan decisions and ongoing operational and financial support. In addition, the Boxing government may face significant negative impact on its reputation and financing activities if BFIG encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that BFIG’s strategic importance would remain intact while the Boxing government will continue to ensure BFIG’s stable operation.