Jiangsu Jurong Investment Group Co., Ltd. (Initial Issuer Report)

Lianhe Ratings Global Limited (“Lianhe Global”) publishes ‘BBB-’ global scale Long-term Issuer Credit Rating to Jiangsu Jurong Investment Group Co., Ltd. (“JJIG” or “the company”)

The Issuer Credit Rating reflects a high possibility that the Jurong government would provide strong support to JJIG if needed. This mainly considers the people’s government of Jurong government’s (“the Jurong government”) 100% ownership of JJIG, JJIG’s strategic position as a major local investment and development company (“LIDC”) in Jurong, as well as the strong linkage between the Jurong government and JJIG, including the appointment of senior management, strategic alignment, supervision of major investment and financing decisions and ongoing operational and financial support. In addition, the Jurong government may face significant negative impact on its reputation and financing activities should JJIG encounter any operational or financial difficulties.

The Stable Outlook reflects our expectation that JJIG’s strategic importance would remain intact while the Jurong government will continue to ensure JJIG’s stable operation.