Core Viewpoint - China Chengxin International has assigned a rating of "--" to Zhangjiagang State-owned Capital Investment Group Co., Ltd, highlighting its significant political and economic position, strong financial strength, and growth potential within the Suzhou region [1] Group 1: Company Overview - Zhangjiagang State-owned Capital Investment Group, originally established as Zhangjiagang Direct Public Asset Management Co., Ltd in February 1998, has undergone several capital increases and share transfers, with registered capital rising to 1.646 billion yuan by the end of 2020 [2] - The company is currently the most important entity for infrastructure construction and public utility operations in Zhangjiagang, engaging in various sectors including infrastructure development, land consolidation, resettlement housing development, public utilities, and property leasing [2] Group 2: Financial and Operational Outlook - China Chengxin International anticipates that Zhangjiagang State-owned Capital Investment Group will maintain a stable credit level over the next 12 to 18 months, supported by its favorable regional environment and competitive business advantages [3] - The company is expected to continue its stable business operations and maintain strong refinancing capabilities, although attention should be paid to debt growth and financing pressures [1]