Nanyang Investment Group Co., Ltd. (Initial Issuer Report)

Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Nanyang Investment Group Co., Ltd. (“NYIC” or “the company”)

The Issuer Credit Rating reflects a high possibility that Nanyang Municipal People’s Government (“the Nanyang government”) would provide strong support to NYIC if needed, in light of its 100% ownership of NYIC, NYIC’s strategic position as the most important local investment and development company (“LIDC”) responsible for infrastructure investment and project construction in Nanyang, and the strong linkage between the Nanyang government and NYIC, including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Nanyang government may face significant negative impact on its reputation and financing activities should NYIC encounter any operational or financial difficulties. 

The Stable Outlook reflects our expectation that NYIC’s strategic importance would remain intact while the Nanyang government will continue to ensure NYIC’s stable operation.