Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB’ global scale Long-term Issuer Credit Rating of Feicheng City Urban Investment Holding Group Co., Ltd. (“FCUI”); Issuer Rating Outlook Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Feicheng district (“the Feicheng government”) would provide very strong support to FCUI if needed. This mainly considers the Feicheng government’s full ownership of FCUI, FCUI’s strategic
importance as an important local investment and development company (“LIDC”) responsible for urban development and industrial investment in Shandong’s Feicheng city (“Feicheng”), the strong linkage between the Feicheng government and FCUI, including the appointment of senior management, strategic alignment, supervision of major financing plan and investment plan and ongoing operational and financial support. In addition, the Feicheng government may face significant negative impact on its reputation and financing activities if
FCUI encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that FCUI’s strategic importance would remain intact while the Feicheng government will continue to ensure FCUI’s stable operation.