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穆迪上調康師傅(00322.HK)評級至「A3」 展望轉為「穩定」
阿思達克 04-29 16:43
評級機構穆迪將康師傅(00322.HK)發行人評級由「Baa1」上調至「A3」,並將展望由「正面」轉為「穩定」。

穆迪表示,評級反映康師傅一貫審慎的財務管控及靈活的業務模式,支持自由現金流產生、低槓桿率及穩健淨現金水平,過去五年每年產生自由現金流介乎35億至55億元人民幣,截至2020年底淨現金已增加至73億元人民幣。

康師傅調整後的債務對EBITDA比率已從2017年底的2倍降低至2020年底的1.4倍,穆迪預期未來一至兩年內負債比率將維持在約1.5倍的較低水平,符合「A3」評級。不過,穆迪提醒,未來評級仍受到新產品開發、完善細分市場需求及行業競爭等因素影響。

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