《大行報告》摩通:華融事件溢出風險 或令中國信達(01359.HK)融資成本上升
摩根大通發表報告表示,華融集團(中國財政部擁有57%的股權)財務報表的延遲以及潛在的重組和資本重組引起了市場對國企債務的擔憂。以去年尚未償還的債券來計,國企貸款約佔銀行貸款的34%,國企債約佔企業貸款的90%。
報告又指,如華融等大型國企金融機構的債務違約可能導致國企借款人的融資成本上升,從而令該等公司更難償還和分期償還現有債務,最終或會導致系統性風險,因此估計必要時最終中央會出手。
該行認為,因華融事件,預期中國信達(01359.HK)融資成本可能會上升,而目前貸方和債券投資者正在等待華融的進一步情況。
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