惠譽:若內房長期陷入困境 產生次生影響將波及多個子行業
評級機構惠譽表示,若中國房地產市場陷入長期困境,且持續時間超過惠譽的基準案例預測,所導致的各種次生影響或將波及該板塊直接價值鏈以外的子行業。
惠譽分析顯示,不良資產管理公司、民營工程建設公司及小型鋼企三個子行業的發行人受到的衝擊最大,其獨立信用狀況的脆弱程度最高。而大部分子行業發行人均面臨中等程度的次生影響,但其獨立信用狀況的脆弱度介於低和中等之間。
另外,九個子行業的發行人所受影響較低,有關發行人多來自非周週期性行業,資產負債表相對保守,因此,受房地產市場低迷和經濟增長放緩的衝擊較小。其中五個子行業發行人獨立信用狀況的評級調整空間較為充裕。
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