Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB’ global scale Long-term Issuer Credit Rating with Stable Outlook to Zhejiang Anji Construction Holding Group Co., Ltd.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Anji County (“the Anji government”) would provide very strong support to Zhejiang Anji Construction Holding Group Co., Ltd. (“ZACH” or the company) if needed. This mainly considers the Anji government’s full ownership of ZACH, ZACH’s strategic position as an important local investment and development company (“LIDC”) responsible for project development in Anji County (“Anji”), and the strong linkage between the Anji government and ZACH, including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Anji government may face significant negative impact on its reputation and financing activities should ZACH encounter any operational or financial difficulties.
The Stable Outlook reflects our expectation that ZACH’s strategic importance would remain intact while the Anji government will continue to ensure ZACH’s stable operation.