Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘A+’ global scale Long-term Issuer Credit Rating with Stable Outlook to Zhuhai Huafa Group Co., Ltd. (“ZHG” or “the company”)
The Issuer Credit Rating reflects a high possibility that the People’s Government of Guangdong Province (“Guangdong government”) and the People’s Government of Zhuhai City, Guangdong Province (“Zhuhai government”) would provide strong support to ZHG if needed, in light of their ownership of ZHG, ZHG’s strategic importance as the key local investment and development company (“LIDC”) that is responsible for urban construction and operation, industrial and finance development, and state-owned asset management in Zhuhai City, Guangdong Province (“Zhuhai”), and the linkage between the government and ZHG, including supervision of the senior management, strategic alignment, major investment and financing plan decisions and ongoing operational and financial support. In addition, the Guangdong and Zhuhai government may face significant negative impact on its reputation and financing activities if ZHG encounters any operational and financial difficulties.
The Stable Outlook reflects our expectation that ZHG’s strategic importance would remain intact while the Guangdong and Zhuhai government will continue to ensure ZHG’s stable operation.