Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Taizhou Huangyan State-owned Capital Investment and Operation Group Co., Ltd. (“THSCI” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Huangyan, Taizhou City (“Huangyan government”) would provide very strong support to THSCI if needed, in light of its full ownership of THSCI, THSCI’s strategic importance as the sole local investment and development company (“LIDC”) that is responsible for infrastructure construction and state-owned asset management in Huangyan, Taizhou City (“Huangyan”), and the linkage between the Huangyan government and THSCI, including appointment and supervision of the senior management, strategic alignment, major investment and financing plan decisions and ongoing operational and financial support. In addition, the Huangyan government may face significant negative impact on its reputation and financing activities if THSCI encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that THSCI’s strategic importance would remain intact while the Huangyan government will continue to ensure THSCI’s stable operation.