穆迪下調遠洋集團(03377.HK)評級至「Ba3」 展望負面
評級機構穆迪將將遠洋集團(03377.HK)的企業家族評級(CFR)從「Ba2」下調至「Ba3」,展望仍爲負面。穆迪副總裁兼高級分析師 Cedric Lai 表示,評級下調反映遠洋經營業績疲軟、利潤率下降及財務靈活性降低,導致自身信貸狀況惡化,對未來12至18個月集團信貸指標及流動性緩衝或減弱感到擔憂。
該行預期,遠洋集團未來12至18個月毛利率將從2022年上半年的18%,下降至12%至13%,指出集團近期透過推出折扣來推動合同銷售,將對利潤空間構成壓力。計及產品組合及手頭土地儲備後,穆迪預計遠洋的合同銷售額今年將按年下跌10%至約900億元人民幣。
不過,穆迪預計遠洋通過出售成都遠洋太古裏物業50%的股權,以及發行境內債券,款項將可用於償還部分到期債務,加上在股東中國人壽(02628.HK)的預期支持下,未來12至18個月仍將保持充足的流動性。
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