Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating with Stable Outlook to Chengdu Dongjin Huaizhou Xincheng Investment Group (“CDHXI” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Jintang District’s (“Jintang government”) would provide strong support to CDHXI, in light of its full ownership of CDHXI, CDHXI’s strategic position as the core construction and operation entity responsible for project construction and management, residential construction and infrastructure construction and operation in Jintang District (“Jintang”), especially in Huaizhou Xincheng Functional Area (“Xincheng”) as well as the linkage between the Jintang government and CDHXI. In addition, the Jintang government may face significant negative impact on its reputation and financing activities if FYIID encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that CDHXI’s strategic importance would remain intact while the Jintang government will continue to ensure CDHXI’s stable operation.