惠譽:受美國生物安全法草案影響,藥明康德(2359.HK/603259.SH)BBB評級進入觀察名單
5月31日,惠譽將藥明康德長期發行人BBB評級和高級無抵押評級列入觀察名單。
惠譽表示美國生物安全法草案使藥明康德的信用狀況面臨潛在上升的監管風險和不確定性。並指出,相關方案仍在立法審查程序中,有待進一步審議和修訂。在生物安全法最終條款及實施辦法明確後,將藥明康德評級移除觀察名單,並評估前述法案對其信用影響。
值得注意的是,在惠譽授評企業中,目前最接近藥明康德的同業公司為Charles River(CRL)的BBB-評級。惠譽指出,藥明康德是僅次於CRL的第二大藥物發現領域的公司,但藥明康德更廣泛、多元化接觸整個醫藥研發價值鏈。且藥明康德財務狀況更為強勁,擁有更強的盈利能力及更低的淨槓桿率。
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