Yancheng High-tech Zone Investment Group Corporation Limited (Initial Issuer Report)

Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating with Positive Outlook to Yancheng High-tech Zone Investment Group Corporation Limited (“YHZIG”).

The Issuer Credit Rating reflects a high possibility that the Yancheng municipal government would provide strong support to YHZIG if needed, in light of YHZIG’s strategic position as the major developing and operating body of Yancheng High-tech Zone and the strong linkage between the Yancheng municipal government and YHZIG including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Yancheng municipal government may face significant negative impact on its reputation and business and financing activities should YHZIG encounter any operational or financial difficulties. 

The Positive Outlook reflects our expectation that YHZIG’s importance would be strengthened given its strategic development role, while the Yancheng municipal government will continue to support YHZIG to ensure its stable operation.