惠譽首予美團(03690.HK)信貸評級「BBB」 展望穩定
評級機構惠譽公布,首予美團(03690.HK)長期發行人違約評級「BBB」,展望穩定。報告稱,美團評級反應其在消費者服務電商平台的領導地位。美團強勁品牌,特別是在內地送餐市場具龍頭地位,吸引達4.6億的龐大客戶群,以及逾600萬家活躍商戶。
該行預期美團服務消費者粘性高,為平台網絡覆蓋及其他服務交叉銷售帶來快速增長空間。評級亦受到店、酒店及旅遊板塊更趨成熟所支持,具龐大現金,容許美團在未來增長機遇上具更大財政彈性。
惠譽補充,美團評級受缺乏盈利能力往績及現金生成不確定性所局限。該行料送餐行業競爭環境已趨穩定,而美團改善盈利的能力,取決於未來持續推廣的需要或商戶叫價能力會否提高。
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