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標普將中樑控股(02772.HK)展望從「穩定」調整爲「負面」 評級「B+」
阿思達克 11-19 10:47
標普全球評級將中樑控股(02772.HK)展望從「穩定」調整爲「負面」,同時確認其長期主體信用評級爲「B+」。標普表示,如果該公司合同銷售額顯着下滑、令債權人要求加速還款等,令中樑的流動性顯現出惡化跡象、導致並表口徑或按比例並表口徑的債務對EBITDA比率上升至6倍以上,屆時有可能下調該公司評級。 標普指,隨着樓市消費者信心的下降,中樑控股未來6至12個月的銷售可能放緩,削弱該公司的回款能力,進而削弱其還本付息的能力,其明年1至8月共有12億美元的優先債券到期,其中有公開債、也有一筆1.5億美元的表內私募債,其境內融資渠道的債務融資規模縮減,不過若監管機構適量放鬆房企銀行等融資通道,壓力會有所緩解。 標普認爲,中樑在三四線城市業務比重大,上半年這些市場的銷售額佔其總銷售約爲50%,標普將基準情景下中樑今年合同銷售額的預測調低至1,650億元人民幣,略低於去年的1,680億元人民幣,明年和後年銷售額可能將分別再降10%、20%,因爲該公司用於補充土地的財務資源有限。預計該公司銷售額的下降幅度將超過行業平均降幅。
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