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惠誉将融信中国(03301.HK)展望降至负面 重申「BB-」评级
阿思达克 04-12 16:42
评级机构惠誉将融信中国(03301.HK)展望由稳定降至负面,重申长期外币发行人违约评级为「BB-」,高级无抵押评级及未偿美元高级票据评级同为「BB-」。

惠誉表示,融信中国的EBITDA利润率由2019%年的29%下降至2020年的约15%,预期计及资本化利息後,今年EBITDA利润率将回升至约20%水平。

但惠誉指出,内地一、二线城市的房地产市场政策风险仍然较高,因此相信利润率复苏前景存有不确定性,若融信今年利润率或销售增长表现显着改善,则评级可以保持稳定。

惠誉预期,融信中国今年将运用销售额回款约40%作购买土地,预期公司销售增长步伐平缓,未来3年销售额料每年增长约5%,因此今年无积极进取补充土储的需要。

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