惠譽升美團(03690.HK)評級展望至「正面」
評級機構惠譽將美團(03690.HK)評級展望由「穩定」上調至「正面」,並確認長期發行人違約評級爲「BBB-」,優先無擔保評級和美元票據評級均爲「BBB-」。
惠譽預計,美團在首三季產生強勁的現金流,超出預期並相信可以持續勢頭,因爲新業務部門的虧損收窄以及核心部門的強勁市場地位令盈利能力改善。同時,更強勁的營運現金流足以滿足資本支出需求,並將支持自由現金流的進一步增長。
不過,惠譽指,來自抖音等競爭對手對盈利能力的影響仍存在不確定性,可能會導致美團未來6至12個月的經營現金流波動。如果見到管理層有更長期的紀律性投資記錄,可能會採取進一步的正面評級行動。
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