HONG KONG, 2 September 2024 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating to Chengdu Jianjiang Investment Group Co., Ltd. (“CJIG” or “the company”). The Outlook is Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Pengzhou City, Chengdu City (“Pengzhou government”) would provide very strong support to CJIG if needed, in light of its full ownership of CJIG, CJIG’s strategic importance as the sole local investment and development company (“LIDC”) that is responsible for infrastructure construction and state-owned asset management in Pengzhou City (“Pengzhou”), Chengdu City (“Chengdu”), and the linkage between the Pengzhou government and CJIG, including appointment of the senior management, strategic alignment, supervision of major investment and financing plan decisions and ongoing operational and financial support. In addition, the Pengzhou government may face significant negative impact on its reputation and financing activities if CJIG encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that CJIG’s strategic importance would remain intact while the Pengzhou government will continue to ensure CJIG’s stable operation.