Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB’ global scale Long-term Issuer and Issuance Credit Rating of Jiangsu Huajing Assets Management Co., Ltd. (“JHAM”); Issuer Rating Outlook is Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Jingjiang (“the Jingjiang government”) would provide strong support to JHAM if needed, in light of its full ownership of JHAM, JHAM’s strategic importance as a major state-owned entity that is responsible for primary land development and city operation in Jingjiang City (“Jingjiang”), and the strong linkage between the Jingjiang government and JHAM, including control of the board of directors, management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Jingjiang government may face significant negative impact on its reputation and financing activities should JHAM encounters any operational and financial difficulties.
Lianhe Global has also affirmed ‘BBB’ global scale Long-term Issuance Credit Rating of the senior unsecured CNY Notes issued by JHAM at the same time. A full list of affirmed issuance rating is included in this report.
The Stable Outlook reflects our expectation that JHAM’s strategic importance would remain intact while the Jingjiang government will continue to ensure JHAM’s stable operation.