Moody's gives Weifang Urban Baa3

Moody's Investors Service said it assigned a first-time Baa3 issuer rating to Weifang Urban Construction and Development Investment Group Co., Ltd.

"Weifang Urban Construction's Baa3 rating reflects its predominant role in undertaking public policy projects in Weifang city, the second-largest prefecture city in Shandong province in terms of GDP contribution; and its close linkage with the city government," said Ying Wang, a Moody's vice president and senior analyst, in a press release.

The outlook is stable.

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