HONG KONG, 28 February 2020 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BB’ global scale Long-term Issuer Credit Rating to Zhongliang Holdings Group Company Limited (“Zhongliang”). The Outlook is Stable.
The Issuer Rating reflects Zhongliang’s established market position and a nationwide footprint in lower-tier cities of the Yangtze River Delta Region. Zhongliang’s rating is constrained by its elevated financial leverage as a result of its debt-funded expansion in the prior years.
The Stable Outlook reflects our expectation that Zhongliang would expand its operating scale in a prudent manner especially regarding land acquisitions, while continuing maintaining its stable growth.