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