We expect YFAI to generate stable operating cash flows and maintain low leverage owing to its solid market position and long-term relationship with key customers. We see YFAI as a strategic important subsidiary of HASCO, given YFAI's strategic alignment and significant profit contribution to the parent group. We are assigning our 'BBB-' long-term corporate credit rating and 'cnA-' long-term Greater China regional scale rating to YFAI. The stable outlook reflects our expectation that YFAI will maintain its solid market position and prudent financial management over the next 12-24 months. On Feb. 28, 2017, S&P Global Ratings assigned its 'BBB-' long-term corporate credit rating to Yanfeng Global Automotive Interior Systems Co. Ltd. (YFAI). The outlook is stable. At the same time,
