Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Hunan Hi-Tech Investment Holding Group Co., Ltd. (“HHI” or “the company”)
The Issuer Credit Rating reflects a high possibility that the Zhuzhou High-tech Industrial Development Zone Management Committee (“Zhuzhou High-tech Zone MC”) (the de facto local government of Zhuzhou High-tech Industrial Development Zone (“Zhuzhou High-tech Zone”)) would provide very strong support to HHI if needed. This mainly considers the Zhuzhou High-tech Zone MC’s full ownership of HHI, HHI’s strategic importance as the most important local investment and development company (“LIDC”) responsible for the development and operation of Zhuzhou High-tech Zone in Zhuzhou City (“Zhuzhou”), and the strong linkage between the local government and HHI, including strategic alignment, supervision of major investment and financing decisions and ongoing operational and financial support. In addition, the Zhuzhou High-tech Zone MC may face significant negative impact on its reputation and financing activities if HHI encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that HHI’s strategic importance would remain intact while the Zhuzhou High-tech Zone MC will continue to ensure HHI’s stable operation.