穆迪下調碧桂園(02007.HK)評級至「Ba3」 展望負面
評級機構穆迪宣布,將碧桂園(02007.HK)的企業評級企業家族評級及高級無抵押評級從「Ba2」下調至「Ba3」,展望維持為負面,指出評級下調反映穆迪預計碧桂園的流動性緩衝將進一步減少,未來12至18個月內公司再融資需求龐大,但融資渠道仍然受限,預期財務指標將下降至不能支持其先前評級的水平。
穆迪高級副總裁Kaven Tsang預期,鑑於低線城市的經濟基本面和住屋需求疲軟,碧桂園在未來1至2年的合約銷售額及盈利能力將下降,由於經營和融資條件充滿挑戰,財務和流動性狀況可能在未來12至18個月內進一步惡化。
據穆迪統計,至2024年3月碧桂園將擁有約430億元人民幣的境內外債券和大量境外銀行貸款到期。雖然碧桂園近期在當局支持下成功發行15億元人民幣的中期票據,提供額外流動性,但穆迪認為與未來12至18個月內到期的債務金額相比,是次發行規模並無太大幫助。
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