S&P Global Ratings has given an overall dark green shade to DST Electric Vehicle Rental (Shenzhen) as per its climate transition assessment, according to a Monday release.
The rating agency expects the company's pure-play green economic activities to remain in line with a "low carbon climate resilient future" and involve low obsolescence risk.
The company's activities are exclusive to keeping and expanding its electric vehicle fleet, the rating agency said.
The company leads the electrification of its logistics sector value chain in China through its status as an early-stage, pure-play firm and also aligns itself with the country's changing energy environment, S&P said.
On the other hand, the company's liquidation of its Singaporean joint venture serves as a weakness while its lack of greenhouse gas emissions and medium-term fleet expansion targets is considered a watch area.
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