穆迪下調碧桂園(02007.HK)評級及合約銷售額預測 展望維持負面
評級機構穆迪宣布將碧桂園(02007.HK)的公司家族評級從「B1」下調至「Caa1」,並將其高級無抵押債務評級從「B1」下調至「Caa2」,評級展望仍為負面。
穆迪高級副總裁曾啟賢指,評級下調反映出碧桂園流動性和財務靈活性惡化、再融資需求較大,並且融資渠道依然受限,預期流動性和再融資風險上升,而負面展望則反映碧桂園在未來6至12個月內及時償還債務及支付票息存在不確定性,未來12個月評級上調的可能性不大。
因應市場對碧桂園流動性和財務健康狀況的擔憂加劇,穆迪將其2023年合約銷售額預測從2,100億元人民幣,下調至1,800億元人民幣;若公司無法改善財務狀況並恢復市場信心,則2024年合約銷售額預期將進一步下滑。
穆迪已將碧桂園在沒有新的外部融資情況下未來12-18個月的流動性評估,從「充足」調整為「疲弱」,以反映投資者對其流動性和財務健康狀況的擔憂日益加劇,及穆迪下調合約銷售額預測,預期流動性轉弱同時將限制其利用內部資源償還債務的財務靈活性。
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