Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB-’ global scale Long-term Issuer Credit Rating of Yancheng High-tech Zone Investment Group Co., Ltd. (“YHZIG”)；Issuer Rating Outlook remains Positive.
The Issuer Credit Rating reflects a high possibility that the Yancheng Municipal People’s Government (“the Yancheng government”) would provide strong support to YHZIG if needed, in light of its 100% ownership of YHZIG, YHZIG’s strategic position as an important developing and operating entity in Yancheng, especially in Yancheng High-tech Zone, and the strong linkage between the Yancheng government and YHZIG, including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Yancheng government may face significant negative impact on its reputation and financing activities should YHZIG encounter any operational or financial difficulties.
The Positive Outlook reflects our expectation that the Yancheng government’s support to YHZIG would be strengthened, while the Yancheng government will continue to ensure YHZIG’s stable operation.