Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating with Stable Outlook to Jining City Development Capital Holdings Co., Ltd. (“JCDCH” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Rencheng District, Jining City (“Rencheng government”) would provide strong support to JCDCH if needed, in light of its full ownership of JCDCH, JCDCH’s strategic importance as the important local investment and development company (“LIDC”) that is responsible for infrastructure construction in Rencheng District, Jining City (“Rencheng”) (“Jining”), and the linkage between the Rencheng government and JCDCH, 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 Rencheng government may face significant negative impact on its reputation and financing activities if JCDCH encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that JCDCH’s strategic importance would remain intact while the Rencheng government will continue to ensure JCDCH’s stable operation.