Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB’ global scale Long-term Issuer and Issuance Credit Rating of Heze City Investment Holdings Group Co., Ltd. (“HZCI” or “the company”); Issuer Rating Outlook Stable
The Issuer Credit Rating reflects a high possibility that the Heze Municipal People’s Government (“the Heze government”) would provide strong support to HZCI if needed, in light of its full ownership of HZCI, HZCI’s strategic importance as a major local investment and development company (“LIDC”) responsible for project development in Heze and the linkage between the Heze government and HZCI, including the appointment of the senior management, strategic alignment, supervision of major financing plan and investment decisions and ongoing operational and financial support. In addition, the Heze government may face significant negative impact on its reputation and financing activities if HZCI encounters any operational and financial difficulties.
Lianhe Global has also affirmed ‘BBB’ global scale Long-term Issuance Credit Rating of the senior unsecured USD Notes (“the Notes”) issued by Heze City Investment Holdings International Co., Limited, an indirect wholly-owned subsidiary of HZCI. The Notes are unconditionally and irrevocably guaranteed by HZCI. A full list of affirmed issuance rating is included in this report.
The Stable Outlook reflects our expectation that HZCI’s strategic importance would remain intact while the Heze government will continue to ensure HZCI’s stable operation.