穆迪:上調中梁控股(2772.HK)評級展望至“正面”
格隆匯3月29日丨國際權威信用評級機構穆迪(Moody's)將中梁控股(2772.HK)的評級展望從“穩定” 上調為“正面”,該行預期公司未來12-18個月的信貸指標將繼續保持強勁,主要由強勁收入及受控的債務增長推動;同時,穆迪維持中梁“B1”的企業家族評級及其“B2”的高級無抵押債務評級,反映了公司在長三角地區二、二線城市的品牌知名度、強大的銷售執行力,以及穩健的信用指標和良好的流動性。
穆迪預計中梁的債務槓桿率(以收入/調整後債務衡量)繼續保持穩定,未來12-18個月將從2020年的99%改善至95%-100%。這是基於該行對中梁強勁收入的期望,以及公司追求增長的同時,嚴謹控制債務增長。同時,穆迪預計,在收入增長和利息成本下降的支撐下,未來EBIT/利息覆蓋率將從2020年的2.8倍提高到3.0倍左右。
穆迪還稱,中梁控股展示了良好的銷售執行力,儘管受新冠疫情影響,2020年全年合同銷售總額仍同比增長11%,達到1688億元人民幣。穆迪認為,中梁在核心市場擁有龐大的銷售資源、強大的銷售執行力和受惠堅實的住房需求,預期其2021年和2022年的年銷售額達提升至人民幣1750億至1850億元。在未來12-18個月,其合同銷售增長將有助於為公司的業務擴張提供資金,支持收入增長和流動性。
另外值得一提的是,日前,中國房地產業協會、上海易居房地產研究院中國房地產測評中心聯合發佈“2021中國房地產開發企業500強”測評成果顯示,中梁憑藉多維度的穩健表現,躍升至榜單第18名,連續三年蟬聯“行業綜合實力20強”,並榮獲“責任地產10強NO.3”稱號。
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