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