Lianhe Ratings Global Limited (“Lianhe Global”) publishes ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Chengdu Airport Industry and Finance Investment and Development Co., Ltd. (“CAIFID” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Shuangliu District, Chengdu City (“the Shuangliu government”) would provide strong support to CAIFID if needed, in light of its indirect majority ownership of CAIFID, CAIFID’s strategic importance as an important local investment and development company (“LIDC”) that is responsible for infrastructure construction and state-owned asset operation in Shuangliu District (“Shuangliu”), especially in the Chengdu International Airport Business District (“Airport BD”), and the linkage between the Shuangliu government and CAIFID, 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 Shuangliu government may face negative impact on its reputation and financing activities if CAIFID encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that CAIFID’s strategic importance would remain intact while the Shuangliu government will continue to ensure CAIFID’s stable operation.