Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB-’ global scale Long-term Issuer and Issuance Credit Rating of Boxing County Finance Investment Group Co., Ltd. (“BFIG” or “the company”); Issuer Rating Outlook is Stable
The Issuer Credit Rating reflects a high possibility that the People’s Government of Boxing County (“the Boxing government”) would provide very strong support to BFIG if needed, in light of its full ownership of BFIG, BFIG’s strategic importance as a key local investment and development company in Boxing County, Binzhou City (“Boxing”). The linkage between the Boxing government and BFIG is strong, including management supervision, strategic alignment, 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 or financial difficulties.
Lianhe Global has also affirmed ‘BBB-’ global scale Long-term Issuance Credit Rating of the senior unsecured bonds (“the Bonds”) issued by BFIG’s wholly-owned offshore subsidiary, Regent Oriental International Co., Ltd. at the same time. The Bonds are unconditionally and irrevocably guaranteed by BFIG. A full list of affirmed issuance rating is included in this report.
Boxing is a county under the jurisdiction of Binzhou City, Shandong Province. It is one of top 100 counties in terms of comprehensive strength in China. Boxing’s GDP amount increased steadily by 6.2% to RMB51.1 billion in 2024.
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.