Credit Rating Report: China Construction Civil Infrastructure Corp. Ltd Issuer Credit Rating *: Aspc+; Outlook: Stable January 25, 2021 Analysts: Wang Kexin 010-65166033;
[email protected] Zhang Renyuan 010-65166028;
[email protected] Wang Huang 010-65166029;
[email protected] Ren Yingxue 010-65166037;
[email protected] Table of Contents Tear Sheet ................................................................................ 2 Rating Summary ...................................................................... 3 Credit Highlights ...................................................................... 3 Outlook ..................................................................................... 3 Assumptions and Forecasts ..................................................... 4 Adjusted Financials and Ratios................................................ 5 Economic and Industry Trends ................................................. 5 Company Description ............................................................... 7 Business Risk Profile ............................................................... 9 Financial Risk Profile ............................................................. 11 Peer Comparison .................................................................... 14 Liquidity ................................................................................. 16 Rating Score Snapshot .......................................................... 19 Related Methodologies and