Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Yangzhou Economic and Technological Development Zone Development (Group) Co., Ltd (“YETDG”).
The Issuer Credit Rating reflects a high possibility that the Yangzhou municipal government would provide strong support to YETDG if needed, in light of its full ownership of YETDG, YETDG’s strategic position as the major development and operation entity of the Yangzhou Economic and Technological Development Zone (“Development Zone”) and the strong linkage between the Yangzhou municipal government and YETDG including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Yangzhou municipal government may face significant negative impact on its reputation and financing activities should YETDG encounter any operational or financial difficulties.
The Stable Outlook reflects our expectation that YETDG’s strategic importance would remain intact while the Yangzhou municipal government will continue to ensure YETDG’s stable operation.