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