You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
惠譽首予浙江滬杭甬(00576.HK)信貸評級「A+」 展望穩定
評級機構惠譽首予浙江滬杭甬(00576.HK)「A+」的發行人違約評級,展望穩定。

惠譽根據其《母子公司評級關聯性標準》,評定浙江滬杭甬的評級與惠譽對浙江滬杭甬的母公司浙江交通集團(浙江省規模最大的省政府持股企業)的內部信用評估結果等同,原因在於,浙江滬杭甬與浙江交通集團的強運營和戰略關聯性,且浙江滬杭甬可持續獲得其母公司的有形支持。

惠譽認爲,浙江滬杭甬的基礎信用狀況爲「bbb+」,反映出浙江滬杭甬的收費公路業務及其子公司浙商證券經營的證券業務的信用狀況。

惠譽根據其《收費公路、橋樑和隧道評級標準》評定浙江滬杭甬收費公路業務的信用狀況,根據其《非銀金融機構評級標準》評定浙商證券的信用質量。浙江滬杭甬的基礎信用狀況受益於其強勁的公路網絡,且其中大部分資產戰略性分佈於浙江省,而浙江省獲益於長江三角洲的經濟繁榮。該公司的證券業務令其風險狀況有所加劇,原因在於惠譽認爲,儘管該公司已採取保守的風險管理策略,其證券業務較收費公路業務更具波動性和週期性。

儘管如此,浙江滬杭甬的業務多元化意味着收費公路在2020年受79天免費通行政策重創的情況下,該公司受新冠肺炎疫情的影響較小。該公司收費公路業務財務狀況穩健,惠譽評級方案下其五年平均淨債務與EBITDA的比率爲2.5倍。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account