Jiangsu: new credit rating system for highway and waterway construction companies

The province of Jiangsu has established a credit system for enterprises involved in the construction of public roads and waterways. 
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The details

The Jiangsu provincial Department of Transportation has finalized a credit rating system for enterprises involved in the construction of public roads and waterways.

Both the companies themselves, and their senior management and key personnel, will be graded. The grades will determine the company’s success in bidding for traffic infrastructure projects in the province.

Projects in progress will also be evaluated on a quarterly basis.

Grading for enterprises

Ratings for enterprises are divided into AA, A, B, C, D levels. The rating will be assigned based on a credit score, and the breakdown is as follows:

  • AA (95 – 100) To achieve AA rating, enterprises must maintain a rating of A for at least 2 years and have a combined credit score of at least 95
  • A (85 – 95)
  • B (75 – 85)
  • C (60 – 75)
  • D (below 60)
Rankings for key personnel

Similarly, those in charge of said construction projects will also be given credit ratings. Their ratings  will be divided into AA, A+, A, B+, B, B-, C,  and C- levels, and will be assigned by the following rubric: 

  • AA: 800  – 1000 points
  • A+: 700 – 800 points
  • A: 600  – 700 points
  • B+: 500 – 600 points
  • B: 400 – 500 points
  • B-: 300 – 400 points
  • C: 200 – 300 points 
  • C-: 1 – 200 points 
  • D: 0 points
Evaluation metrics

Projects, companies and key personnel will be rated on past and current performance in the areas of:

  • Adherence to project schedule
  • Project design
  • Timely payment of wages to migrant workers
  • Safety management
  • Dust pollution prevention and control
  • Quality of materials
  • Condition of equipment
  • Credit history (past inclusion on blacklists or redlists)
  • Financial solvency
  • Qualifications of key personnel
 Source
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