Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Jiangshan Economic Development Zone Construction Investment Group Co., Ltd. (“JEDZC” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Jiangshan District, Quzhou City (“Jiangshan government”) would provide very strong support to JEDZC if needed, in light of its full ownership of JEDZC, JEDZC’s strategic importance as the key local investment and development company (“LIDC”) that is responsible for infrastructure construction and land development in Jiangshan City, Quzhou City (“Jiangshan”), especially in the Jiangshan Economic Development Zone, Zhejiang Province (“Jiangshan EDZ”) and the linkage between the Jiangshan government and JEDZC, including appointment and supervision of the senior management, strategic alignment, major investment and financing plan decisions and ongoing operational and financial support. In addition, the Jiangshan government may face significant negative impact on its reputation and financing activities if JEDZC encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that JEDZC’s strategic importance would remain intact while the Jiangshan government will continue to ensure JEDZC’s stable operation.