惠誉首予美团(03690.HK)信贷评级「BBB」 展望稳定
评级机构惠誉公布,首予美团(03690.HK)长期发行人违约评级「BBB」,展望稳定。报告称,美团评级反应其在消费者服务电商平台的领导地位。美团强劲品牌,特别是在内地送餐市场具龙头地位,吸引达4.6亿的庞大客户群,以及逾600万家活跃商户。
该行预期美团服务消费者粘性高,为平台网络覆盖及其他服务交叉销售带来快速增长空间。评级亦受到店、酒店及旅游板块更趋成熟所支持,具庞大现金,容许美团在未来增长机遇上具更大财政弹性。
惠誉补充,美团评级受缺乏盈利能力往绩及现金生成不确定性所局限。该行料送餐行业竞争环境已趋稳定,而美团改善盈利的能力,取决於未来持续推广的需要或商户叫价能力会否提高。
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