Beijing Business Daily (Reporter Wang Yinhao) April 27BigcatrescuemegawaysIn response to the fact that Moody's, a foreign rating agency, once again downgraded the credit rating of Vanke, a leading real estate company, to Ba3, Vanke responded that the rating agencies had made a decision to adjust the company's rating based on a pessimistic outlook for the industry and concerns about the company's uncertainty, which failed to fully and effectively reflect the company's positive actions in terms of operation, financing and liquidity, and would also mislead the market and aggravate unnecessary panic.
Vanke further said that at present, the company's operation remains stable, the contract sales scale continues to maintain the leading position in the industry, the financial institutions support the company as always, and Shenzhen state-owned assets and major shareholders support the company and continue to provide substantive support. The company firmly opposes the decision made by Moody's and hopes that Moody's can accurately evaluate and reflect the company's situation and maintain market stability.
At the investor exchange meeting on April 14, Vanke management admitted that from the overall operating situation, Vanke has indeed encountered phased operational difficulties and short-term liquidity pressure. However, Vanke has formulated a package of plans to stabilize operations and reduce liabilities, which can properly resolve these phased pressures.
Vanke management said that Vanke will first be based on "self-rescue", based on its own ability and resources to defuse risks, reopen and review all existing businesses, sort them out, and formulate targeted plans. In addition, we should make full use of all kinds of existing financing tools and actively mobilize all frontline forces to make good use of a series of policy financing tools issued by the central government that are conducive to the industry to defuse risks. "Vanke's debt will drop by 100 billion yuan this year and next, and the debt risk will be substantially resolved. We also solemnly promise that all projects of Vanke Group will be delivered on time and of high quality. "