Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating with Stable Outlook to Linqu Economic Development Investment Group Co., Ltd. (“LQED” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Linqu County (“Linqu government”) would provide strong support to LQED if needed, in light of its full ownership of LQED, LQED’s strategic importance as an important LIDC responsible project development and state-owned assets operation in Linqu County (“Linqu”), and the linkage between the Linqu government and LQED, 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 Linqu government may face significant negative impact on its reputation and financing activities if LQED encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that LQED’s strategic importance would remain intact while the Linqu government will continue to ensure LQED’s stable operation.