Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB’ global scale Long-term Issuer Credit Rating of Changshan County City Investment Group Co., Ltd. (“CCCI” or “the company”); Issuer Rating Outlook Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Changshan County (“Changshan government”) would provide very strong support to CCCI if needed, in light of its full ownership of CCCI, CCCI’s strategic position as the sole entity that is responsible for infrastructure construction, land development and resettlement housing construction in Changshan, and the strong linkage between the Changshan government and CCCI, including control and supervision over CCCI’s 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 should CCCI encounter any operational or 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.