Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB’ global scale Long-term Issuer Credit Rating of Nanxun Communications Investment Group Co., Ltd. (“NCIG”); Issuer Rating Outlook Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Nanxun District, Huzhou City (“Nanxun government”) would provide strong support to NCIG if needed, in light of its 100% ownership of NCIG, NCIG’s strategic importance as the important state-owned entity for transportation and water conservancy related infrastructure investment, construction and operation in the region, and the linkage between the Nanxun government and NCIG, including control and supervision over the management, strategic alignment and ongoing operational and financial support. In addition, the Nanxun government may face significant negative impact on its reputation, business and financing activities if NCIG encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that NCIG strategic importance would remain intact while the Nanxun government will continue to ensure NCIG’s stable operation.