紫金礦業(02899.HK):惠譽上調公司國際信用評級
格隆匯4月27日丨紫金礦業(02899.HK)公吿,2022年4月27日,惠譽國際信用評級有限公司(以下簡稱"惠譽")發佈對紫金礦業集團股份有限公司(以下簡稱"公司"、"公司"或"紫金礦業")信用評級更新報吿,惠譽將紫金礦業的長期發行人違約評級和高級無抵押評級從"BB+"上調至"BBB-",評級展望為穩定。
惠譽認為,紫金礦業在塞爾維亞佩吉銅金礦和博爾銅礦、剛果(金)卡莫阿—卡庫拉銅礦和西藏巨龍銅礦等國內外主要礦山投產、擴產的推動下實現了去槓桿,且收購阿根廷3Q高品位鋰鹽湖項目有助於公司實現向新能源領域的多元化拓展;得益於銅、金礦產品產量提升、穩固的成本優勢以及全球大宗商品價格堅挺,特別是電氣化應用導致銅需求量上升將支持銅保持有利的基本面,紫金礦業的EBITDA及經營性現金流生成能力將保持強勁,從而為其提供充裕空間以滿足項目開發資本支出及項目併購需求,同時將淨債務與EBITDA的比率保持在2倍以下;紫金礦業擁有多元化的金屬業務組合、低成本優勢(在全球成本曲綫中屬第二個四分位水平)以及高收益資產,礦山服務年限長,這些因素對公司的評級亦形成支撐。
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