惠譽降361度(01361.HK)信貸評級至「B+」 展望穩定
評級機構惠譽發表報告,下調361度(01361.HK)長期外幣發行人違約評級,由「BB-」降至「B+」,展望穩定。該行準則,「B+」屬非投資級別。
該行稱,降級反映361度經營狀況轉弱,疫情下消費開支減少,加劇增長收縮及市佔倒退情況。展望穩定反映公司穩定經營模式,料2020年後產生自由現金流生成及深度淨現金狀態。
報告引述Euromonitor International數據,指361度中國體品市佔由2015年的5.1%收縮至2019年的3.1%,料中期仍面對市佔流失,其收入增長亦落後於行業及同業。該行料公司銷量今年在激烈競爭下將面對壓力。在零售需求疲弱下,分銷商料大幅減少補貨。該行料361度將推嚴厲成本控制措施,但EBITDA利潤率料下滑,主因毛利收縮及一些固定經營成本。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.