HONG KONG, 27 December 2024 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating to Sichuan Hengji Industrial Group Co., Ltd. (“SHIG” or “the company”). The Outlook is Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Qu County (“Qu County government”) would provide very strong support to SHIG if needed, in light of its indirect majority ownership of SHIG, SHIG’s strategic importance as an important local investment and development company (“LIDC”) responsible for infrastructure construction and state-owned asset operation in Qu County, especially in the Qu County Economic Development Zone (“Qu County EDZ”), and the linkage between the Qu County government and SHIG, including appointment of the senior management, strategic alignment, supervision of major investment and financing plans and ongoing operational and financial support. In addition, the Qu County government may face significant negative impact on its reputation and financing activities if SHIG encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that SHIG’s strategic importance would remain intact while the Qu County government will continue to ensure SHIG’s stable operation.