標普降恆大(03333.HK)評級展望至「負面」 料流動性壓力加劇
評級機構標普發表報告,指隨著中國恆大(03333.HK)短債償付責任持續增加,及明年1月潛在償還部分A股戰略投資,料其流動性轉弱。惡化情況或被合約銷售良好及活躍增資活動所部分抵銷;在監管趨嚴下,管理層亦注意改善槓桿及流動性。
昨日(24日)標普下調恆大、其地產分支恆大地產集團,以及離岸金融平台天基控股的評級展望,由「穩定」下調至「負面」,同時確認該三家公司長期發行人信貸評級「B+」。負面展望反映該行認為恆大在未來六個月將面對更大流動性壓力,部分由於資本結構不平衡。這亦反映該行預期恆大毛利率將會收窄,加劇其槓桿。
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