Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB’ global scale Long-term Issuer Credit Rating with Stable Outlook to New Town Construction Investment (Jizhou, Tianjin) Co., Ltd. (“NTCI” or “the company”)
The Issuer Credit Rating reflects a high possibility that the Jizhou District People’s Government (“the Jizhou government”) would provide very strong support to NTCI if needed. This mainly considers the Jizhou government’s indirect full ownership of NTCI, NTCI’s strategic importance as a major local investment and development company (“LIDC”) responsible for project development in Tianjin’s Jizhou District (“Jizhou”). In addition, the linkage between the Jizhou government and NTCI is strong, including management supervision, strategic alignment and ongoing operational and financial support. Moreover, the Jizhou government may face significant negative impact on its reputation and financing activities if NTCI encounters any operational and financial difficulties.
Jizhou is a municipal district under Tianjin’s jurisdiction. In 2024, Jizhou’s GDP grew steadily by 3.0% to RMB29.9 billion.
The Stable Outlook reflects our expectation that NTCI’s strategic importance would remain intact while the Jizhou government will continue to ensure NTCI’s stable operation.