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S&P rates Nanjing Yang Zi BBB+
S&P said it assigned a BBB+ long-term corporate credit rating to Nanjing Yang Zi State-Owned Investment Group Co. Ltd.
The outlook is stable.
The agency also said it assigned a cnA+ long-term Greater China regional scale rating to the company.
The rating benefits from the creditworthiness of the company's sole owner, the Nanjing municipal government, S&P said.
The agency said it sees an extremely high likelihood that the company will receive timely and sufficient extraordinary government support if it comes under financial distress.
The company plays a very important role and it integrally linked with the Nanjing municipal government, S&P said.
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