标普:上调龙湖(0960.HK)信贷评级至“BBB” 展望稳定
评级机构标准普尔表示,将龙湖集团(0960.HK)信贷评级由“BBB-”上调至“BBB”,评级展望为“稳定”,以反映龙湖盈利增长稳定及财务管理良好。
标普解释,龙湖自然增长强劲,包括高租金收入及稳健销售表现,预期公司今年来自商场租金及长租公寓的租金收入将可稳定增长,带动经常性收入按年增加50%至60亿元人民币;明年则料进一步增至逾80亿元人民币,主要由于公司今明两年分别拥有9个及16个新商场项目。另外,龙湖在长租公寓业务增长亦快速,其房间数量由6万间,在今年底前增至8万间,明年料达12万间,预料相关业务在未来12个月将有望实现盈利。
标普认为,对比同业,龙湖在财务管理上更为严谨,由于公司拥有稳定的经营现金流,促使公司在扩张阶段,仍可维持其财务杠杆水平。至于核心物业销售业务方面,则料公司每年销售可维持10%的温和增长。尽管其增速远低于往年,但估计仍高于行业平均水平。
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