Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB’ global scale Long-term Issuer and Issuance Credit Rating of Huai’an Traffic Holding Group Co., Ltd. (“Huai’an Traffic” or “the company”); Issuer Rating Outlook Stable
The Issuer Credit Rating reflects a high possibility that the Huai’an Municipal People’s Government (“the Huai’an government”) would provide strong support to Huai’an Traffic if needed, in light of its full ownership of Huai’an Traffic, Huai’an Traffic’s strategic position as an important local investment and development company (“LIDC”) that is responsible for transportation investment, construction and operation in Huai’an and the strong linkage between the Huai’an government and Huai’an Traffic including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Huai’an government may face significant negative impact on its reputation and financing activities should Huai’an Traffic encounter any operational or financial difficulties.
The Stable Outlook reflects our expectation that Huai’an Traffic’s importance would remain intact while the Huai’an government will continue to ensure Huai’an Traffic’s stable operation.