Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB’ global scale Long-term Issuer Credit Rating of Chengdu Jiaozi Modern Urban Industrial Development Co., Ltd. (“CJMU” or “the company”); The Outlook is Stable
The Issuer Credit Rating reflects a high possibility that the People’s Government of Jinniu District (“the Jinniu government”) would provide strong support to CJMU if needed, in light of its indirect full ownership of CJMU, the strategic importance of CJMU as a major urban development and operation entity in Chengdu’s Jinniu District (“Jinniu”), and the linkage between the Jinniu government and CJMU, including management appointment, supervision over CJMU’s strategic development, major investment and financing plans through its shareholder, strategic alignment and ongoing operational and financial support. In addition, the Jinniu government may face significant negative impact on its reputation and financing activities if CJMU encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that CJMU’s strategic importance would remain intact while the Jinniu government will continue to ensure CJMU’s stable operation.