惠譽下調萬科(02202.HK)評級至非投資級別「BB+」 列負面評級觀察
惠譽將萬科(02202.HK)的長期外幣發行人違約評級由「BBB」下調至「BB+」,並將萬科香港的評級從「BBB」下調至「BB」,所有評級均列入負面評級觀察名單,表示其評級有進一步下調的風險。「BB+」低於「BBB-」,屬非投資級別,俗稱垃圾級別,反映其信貸違約風險較高。
惠譽表示,是次評級下調主要反映萬科銷售業績疲弱,同時資本市場波動限制了公司的融資渠道,認為相關因素可能導致萬科在即將到期的債務中財務靈活性持續惡化。
該行預計,隨著今年銷售表現趨於穩定,萬科可能會利用手頭現金,以及通過銷售及資產變現所產生的內部現金流,來償還今明兩年到期的約130億及360億元人民幣債務。
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