Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating with Stable Outlook to Changshan County City Investment Group Co.,Ltd. (“CCCI” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Changshan County, Quzhou City (“Changshan government”) would provide strong support to CCCI if needed, in light of its full ownership of CCCI, CCCI’s strategic importance as the important state-owned entity for infrastructure construction and land development, as well as settlement hosing construction in Changshan County (“Changshan”), and the linkage between the Changshan government and CCCI, including control and supervision over the management, strategic alignment and ongoing operational and financial support. In addition, the Changshan government may face significant negative impact on its reputation, business and financing activities if CCCI encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that CCCI’s strategic importance would remain intact while the Changshan government will continue to ensure CCCI’s stable operation.