HONG KONG, 3 January 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB’ global scale Long-term Issuer Credit Rating to Dujiangyan Urban and Rural Construction Group Co., Ltd. (“DURC” or “the company”). The Outlook is Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Dujiangyan City (“Dujiangyan government”) would provide strong support to DURC if needed, in light of its indirect full ownership of DURC, DURC’s strategic importance as an important local investment and development company (“LIDC”) responsible for infrastructure construction and state-owned asset operation in Dujiangyan, and the linkage between the Dujiangyan government and DURC, including appointment of the senior management, strategic alignment, supervision of major investment and financing plans and ongoing operational and financial support. In addition, the Dujiangyan government may face significant negative impact on its reputation and financing activities if DURC encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that DURC’s strategic importance would remain intact while the Dujiangyan government will continue to ensure DURC’s stable operation.