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S&P Lowers MEITUAN-W Credit Rating to BBB+ with Negative Outlook
Recommend 21 Positive 29 Negative 21 |
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S&P Global Ratings announced the downgrade of the issuer credit rating on MEITUAN-W (03690.HK) from A- to BBB+, and downgrade of the issue rating of the company's outstanding debt to BBB+, with a negative outlook. S&P believed that the ability of Chinese online retailer Meituan to defend and expand its market share has dropped, partly due to BABA-W (09988.HK)'s determination to establish a strong presence in the on-demand delivery market. The rating agency viewed that competition across multiple business areas will suppress Meituan's profitability and cash flow generation. AASTOCKS Financial News Website: www.aastocks.com |
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