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惠譽下調富力地產(02777.HK)及子公司信貸評級展望至負面
阿思達克 09-15 10:33
評級機構惠譽將富力地產(02777.HK)及其子公司富力地產(香港)長期外幣發行人違約評級展望由穩定下調至負面,並確認這兩家公司的發行人違約評級和高級無抵押評級為「B+」,回收率評級為「RR4」。 負面評級展望反映出,未來12個月,富力地產的境內資本市場融資渠道有所收窄且其將到期資本市場債務存在再融資風險。 鑑於富力地產持有可售資源7,820億元人民幣,且2021年上半年合同額仍保持強勁。惠譽認為公司有多種方法來應對其將到期債務。此外,富力地產正在商討一系列資產處置事宜,有望為公司帶來額外的流動性。不過,由於該等計劃存在執行風險,流動性緩衝改善空間可能有限。 至於關鍵評級驅動因素包括將到期債務規模龐大、再融資有賴銷售回升、槓桿率持續下降、資產處置有助去槓桿、資本市場融資渠道收窄,以及表外債務規模小。
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