Moody's Changes Outlook on MEITUAN-W (03690.HK) Ratings to Positive, Affirms Baa3 RatingMoody's announced to change the outlook on MEITUAN-W (03690.HK) ratings to positive from stable. At the same time, Moody's affirmed MEITUAN-W's Baa3 issuer rating and senior unsecured ratings.
Ying Wang, vice president and senior analyst at Moody's, said the positive outlook reflected the
faster-than-expected deleveraging trend of MEITUAN-W, as well as the
better market position in its core food delivery and in-store, hotel and travel service operations.Related News: BOCI Trims MEITUAN-W (03690.HK) TP to $164; Offline Consumption Recovers but Rivalry Escalates
The company was expected to enhance its earnings performance and improve its credit profile by maintaining a solid and strong operating performance in its core businesses and further reducing operating losses in its new initiatives.
Moody's expected MEITUAN-W's adjusted EBITDA margin to gradually hike to 10% over the next 12-18 months, while revenue growth will subside to 10%-15% per annum over the next 2-3 years as a result of a possible structural slowdown in the Chinese economy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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