Guangzhou Development Group Incorporated: Update to credit analysis
Our credit view of GZ Development reflects its moderate financial profile, against its ambitious energy transition plan and absence of effective tariff mechanisms.Guangzhou Development Group is engaged in the investment and construction of energy and infrastructure industries; production management; and provision of management services. Through its subsidiaries, Co. is engaged in investment, development and management of electric power industry and physical distribution industry; natural gas power generation construction project; storage and loading of coal; production and sale of aerated concrete; retail and wholesale of fuel; loading and sale of petrochemical industry products; sale of oil product; and production, processing, storage, transmission and sale of fuel gas.
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