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