Fitch Ratings has withdrawn China-based Meinian Onehealth Healthcare Holdings Co., Ltd.'s Long-Term Issuer Default Rating (IDR) and senior unsecured rating of 'B+'.

The Outlook on the IDR is Stable.

Fitch is withdrawing the rating as Meinian has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the rating. Accordingly, Fitch will no longer provide ratings or analytical coverage for Meinian.

Key Rating Drivers

No longer relevant, as the rating has been withdrawn.

Derivation Summary

No longer relevant, as the rating has been withdrawn.

Key Assumptions

No longer relevant, as the rating has been withdrawn.

RATING SENSITIVITIES

No longer relevant, as the rating has been withdrawn.

Best/Worst Case Rating Scenario

International scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit https://www.fitchratings.com/site/re/10111579.

Liquidity and Debt Structure

No longer relevant, as the rating has been withdrawn.

Issuer Profile

Meinian provides preventative healthcare solutions in China with a network of 615 check-up centres as of end-June 2022.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING

The principal sources of information used in the analysis are described in the Applicable Criteria.

The issuer has stopped participating in the rating process. Its public disclosures are not sufficient to determine the rating level.

ESG Considerations

Following the withdrawal of ratings for Meinian, Fitch will no longer be providing the associated ESG Relevance Scores.

RATING ACTIONS

Entity / Debt

Rating

Prior

Meinian Onehealth Healthcare Holdings Co., Ltd.

LT IDR

WD

Withdrawn

B+

senior unsecured

LT

WD

Withdrawn

B+

Page

of 1

VIEW ADDITIONAL RATING DETAILS

Additional information is available on www.fitchratings.com

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