惠譽因順豐收購嘉里物流(00636.HK)將其列入負面評級觀察名單
惠譽評級指,由於順豐擬收購嘉里物流(00636.HK)股權,將其「A-」的長期發行人違約評級和高級無抵押評級列入負面評級觀察名單。順豐子公司SF Holding Investment Limited發行的未償債券評級為「A-」亦被列入負面評級觀察名單。
順豐於2021年2月9日宣佈,計劃以176億港元的現金方式收購嘉里物流51.5%股權。惠譽將在順豐的財務狀況明朗後,於交易完成之時或之前解除其評級觀察負面狀態。順豐亦宣佈擬操作非公開發行A股股票,預期募資總額為220億元人民幣,料公司強大的運營現金流(FFO)生成能力,應足以抵銷收購對槓桿率產生的潛在影響。但若交易在沒有A股定增下完成,惠譽或將因槓桿率上升而考慮對其採取負面評級行動。
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