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惠譽將富力地產(02777.HK)信貸評級連降五級至「C」
阿思達克 12-20 15:20
惠譽已將富力地產(02777.HK)及其子公司富力香港的長期外幣發行人違約評級自「B-」連降五級至「C」,同時將這兩家公司的高級無抵押評級自「B-」下調至「C」,回收率評級仍為「RR4」。惠譽已將上述評級移出評級負面觀察名單。 惠譽指,本次評級下調是由於富力地產發公告稱,該公司已發起要約收購和同意徵求,尋求降低其2022年1月13日到期的7.25億美元高級票據本金的應付價格或票據展期。投資者可選擇就每1,000美元本金金額的票據,即時獲償830美元外加應計利息。另一個方案是,投資者於到期日將僅獲得50%本金兌付,其餘50%本金將展期六個月至2022年7月13日。此外,富力地產正尋求將按債券本金金額100%的贖回價,選擇性贖回債券的通知期縮短至七個工作日。 惠譽依據其標準,將債券展期六個月且延遲償付50%本金及/或降低應付價格視為不良債務交換,若富力地產成功完成擬議要約收購和同意徵求,惠譽將下調其發行人違約評級至「RD」(限制性違約)。惠譽隨後將重新評估富力地產的信用狀況,得出與該公司徵求同意後的資本結構和風險狀況相稱的發行人違約評級,相應評級可能會處於投機級區間的低位。
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