Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating with Stable Outlook to Suqian Yufeng Industrial Investment Development Management Group Co., Ltd. (“SYII” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Suyu District of Suqian City (“Suyu government”) would provide strong support to SYII if needed, in light of its indirectly full ownership of SYII, SYII’s strategic importance as an important local investment and development company (“LIDC”) for infrastructure construction and resettlement housing construction in Suyu District (“Suyu”), and the linkage between the Suyu government and SYII, including appointment and supervision of the senior management, strategic alignment, major investment and financing plan decisions and ongoing government support, etc. In addition, the Suyu government may face significant negative impact on its reputation and financing activities if SYII encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that SYII’s strategic importance would remain intact while the Suyu government will continue to ensure SYII’s stable operation.