ATHGAlcohol and Temperance History Group (est. 1979; Akron, OH)
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Fitch expects ATHG's debt to stay at current levels in the forecast period of 2018-2020 because we expect the government to inject more capital into several planned projects.
Weak Standalone Credit Profile: Fitch assesses that ATHG's standalone credit profile is in the 'B' category at the maximum, based on a 'Mid-Range' revenue defensibility, a 'Weaker' operating risk assessment and ATHG's financial profile.
The ratings on ATHG could change if Fitch revises its perception of Anhui Province's ability to provide the company subsidies, grants or other legitimate resources allowed under the policies and regulations.
An increase in incentive for Anhui Province to provide legitimate resources to ATHG, stronger socio-political and financial implications for the province should ATHG fail, and a stronger track record of legitimate resources received, may trigger positive rating action on ATHG.
An improvement or deterioration of the standalone credit profile or the liquidity position of ATHG could result in rating action.
Fitch published new criteria for government-related entities on 7 February 2018, which applies to ATHG. For further details, see: Government-Related Entities Rating Criteria.