HONG KONG, 22 August 2024 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘A’ global scale Long-term Issuer Credit Rating to Wuhan Optics Valley Financial Holding Group Co., Ltd. (“WOVFH” or “the company”). The Outlook is Stable.
The Issuer Credit Rating reflects a high possibility that the Management Committee of Wuhan Donghu New Technology Development Zone (“the Management Committee”), the de facto local government of Wuhan Donghu New Technology Development Zone (“Donghu NTZ”), would provide very strong support to WOVFH if needed, in light of its indirect majority ownership of WOVFH, WOVFH’s strategic importance as a key investment platform in Donghu NTZ, and the linkage between the local government and WOVFH, including appointment of the senior management, strategic alignment, supervision of major investment and financing decisions and ongoing operational and financial support. In addition, the local government may face significant negative impact on its reputation and financing activities if WOVFH encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that WOVFH’s strategic importance would remain intact while the local government will continue to ensure WOVFH’s stable operation.