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