Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Qingdao Economic and Technological Development Zone Investment Holding Group Co., Ltd. (“QEDIH” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of West Coast New Area, Qingdao City (“West Coast New Area government”) would provide strong support to QEDIH if needed, in light of its indirect full ownership of QEDIH, QEDIH’s strategic importance as the key local investment and development company (“LIDC”) responsible for infrastructure construction and innovative industries integration in the West Coast New Area, Qingdao City (“West Coast New Area”) (“Qingdao”), and the linkage between the West Coast New Area government and QEDIH, including management appointments, strategic alignment, supervision of major investment and financing plans and ongoing operational and financial support. In addition, the West Coast New Area government may face significant negative impact on its reputation and financing activities if QEDIH encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that QEDIH’s strategic importance would remain intact while the West Coast New Area government will continue to ensure QEDIH’s stable operation.