Moody's Investors Service has assigned a first-time Baa3 issuer rating to Zhongsheng Group Holdings Limited. "The Baa3 rating reflects Zhongsheng's strong position in China's (A1 stable) auto dealership market, its large dealership network, favorable brand and market exposure and efficient operational management, which have contributed to its steady business performance," says Roy Zhang, a Moody's Vice President and Senior Analyst. "The rating also reflects Zhongsheng's sound financial profile, prudent financial policy and linkage with its strategic shareholder, Jardine Strategic Holdings Limited (Jardine Group, A1 stable)," adds Zhang.