惠誉首予小米(01810.HK)信贷评级「BBB」 展望稳定
评级机构惠誉发表报告,首予小米集团(01810.HK)长期本外币发行人违约评级「BBB」,展望稳定。据该行准则,「BBB」属投资级别。
报告称,评级反映惠誉料小米在疫情爆发期间维持经营状况,及在大流行後快速恢复财政状况。惠誉称,小米生产主要依赖外判夥伴及物联网生态系统夥伴,而且更多依赖线上销售,其高度规模及有效经营,是小米信贷状况与同业有所分别的主因。相较同业较高的营运开支及资本开支结构,小米较轻巧的营运开支及资本开支结构将致其较小程度受疫情影响。
惠誉另称,小米流动性充裕,短期盈利能力下滑料不会导致其债务显着堆积,意味疫情过後小米盈利能力及现金流生成复苏,将改善其财政状况。
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