S&P: Chongqing Nan’an BBB+

S&P said it assigned a BBB+ long-term corporate credit rating to Chongqing Nan’an Urban Construction & Development (Group) Co. Ltd.

The agency also said it assigned a cnA+ long-term Greater China regional scale rating to the company.

The company is the largest financing and investing platform focusing on urban infrastructure development for the Chongqing Nan’an district government, S&P said.

The outlook is stable.

The rating primarily reflects the credit profile of the Chongqing Nan’an district government, S&P said.

There is an almost certain likelihood that the company will receive timely and sufficient extraordinary government support if it comes under financial stress, the agency said.

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