標普:恆大(03333.HK)大機會未能償還本星期到期債券利息
標普上星期將中國恆大(03333.HK)及附屬公司評級,由「CCC」下調至「CC」,評級前景「負面」。對於會否進一步調低恆大的評級至D級或SD(選擇性違約),標普評級亞太區企業評級董事Matthew Chow表示,該行會密切留意恆大能否兌付本星期四(23日)和月底到期的公共債券,認為集團有很大機會未能償還該等債券以及銀行貸款利息,以及集團有否為建築項目公司債務做擔保。他說,類似恆大的債務危機可能會擴散到較弱的房企,這些企業可能未能在資本市場上獲取資金,不過認為資本市場仍然對房地產行業開放,質素較好的房企仍然能夠發新債。
標普評級亞太區主權評級行業主管Kim Eng Tan表示,萬一房企出現違約,相信政府會透過令這些企業的資產價值盡可能最大化以協助減低損失,包括確保工程順利完成來償還債務、減少住宅買家的壓力,相信中央會在系統風險誘發時才會向企業注資,不過該機構不預期這種情況會發生。
至於恆大的債務危機會否影響中國的主權評級,Kim Eng Tan說,視乎金融市場因而出現的波動會否影響經濟增長,以及中央會否被迫對國有銀行注入資本,但該行不認為系統風險出現的可能性會高到令中央出手援助。
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