Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Jiangsu Anhui Cooperation Demonstration Zone Construction and Development Group Co., Ltd. (“JAG” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Liyang (“the Liyang government”) would provide strong support to JAG if needed. This mainly considers the Liyang government’s full ownership of JAG, JAG’s strategic importance as an important local investment and development company (“LIDC”) responsible for primary land development, resettlement house and infrastructure construction in Liyang, and the linkage between the Liyang government and JAG, including the appointment of senior management, strategic alignment, supervision of major investment and financing decisions and ongoing operational and financial support. In addition, the Liyang government may face significant negative impact on its reputation and financing activities if JAG encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that JAG’s strategic importance would remain intact while the Liyang government will continue to ensure JAG’s stable operation.