穆迪：中國(guó)房產(chǎn)開發(fā)商信用評(píng)級(jí)有望好轉(zhuǎn)

The credit metrics of Chinese property developers will likely improve over the next year to 18 months as their revenue outpaces growth in debt, Moody’s said on Thursday.

穆迪(Moody’s)周四表示，隨著中國(guó)房地產(chǎn)開發(fā)商的收入增長(zhǎng)超過(guò)了債務(wù)增長(zhǎng)，未來(lái)一年到一年半時(shí)間里它們的信用狀況很可能會(huì)有所改善。

Among the 43 companies it covers in the sector, the rating agency said expects the weighted-average revenue against adjusted debt will rise to 72 per cent by the end of this year and 76 per cent by the end of 2018. That marks a change from 64 per cent for the 12 months ended June 30.

這家評(píng)級(jí)機(jī)構(gòu)表示，預(yù)計(jì)到今年底，其所覆蓋43家公司的加權(quán)平均收入與調(diào)整后債務(wù)之比將升至72%，到2018年底將達(dá)到76%。相對(duì)于截至6月30日的12個(gè)月期間的64%有顯著改觀。

Moody’s analyst Anthony Lee said borrowing and leverage lifted in the first six months of 2017 amid aggressive land acquisition as developers moved to boost market share.

穆迪分析師Anthony Lee表示，隨著開發(fā)商競(jìng)相提高市場(chǎng)份額，在積極買地的背景下，2017年上半年借款和杠桿率都有所提升。

Moody’s downgraded nine developers during the period but expects the deterioration for five of those companies to be temporary.

在此期間穆迪下調(diào)了9家開發(fā)商的評(píng)級(jí)，但預(yù)計(jì)其中5家公司的降級(jí)是暫時(shí)的。

Slower growth sales and tighter funding conditions will see the pace of debt-funded land acquisitions and merger and acquisitions activity “moderate”, Mr Lee said.

Anthony Lee表示，由于銷售增長(zhǎng)放緩和資金狀況趨緊，舉債收購(gòu)?fù)恋睾筒①?gòu)活動(dòng)的步伐將“放緩”。