中信泰富被标普降至垃圾级

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中信泰富被标普降至垃圾级

天之聪教育 2012-06-19 未知 337次

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韩刚，毕业于外交学院英语翻译理论与实践专业，曾以优异成绩考入外交部翻译室接受培训，后调任新闻司担任新闻发言人同传，也是著名的口译教学老师。

中信泰富被标普降至垃圾级

Wednesday, July 20, 2011

国际信贷风险评级机构标准普尔将国有控股的中信泰富降至垃圾级别的 "BB+" ，并表示可能会进一步调低评级。

中信泰富为经营采矿和房地产业务的集团公司。标普调低其评级，是因该公司上周披露其西澳洲Sino Iron铁矿石项目的成本将增加9亿美元。这一评级对国企来说属于极低。

Sino Iron项目原本预计耗资53亿美元，但之后预算一再增加，并多次延期。分析师认为中信泰富或许并不了解在国外投资矿业所面临的高风险。

标普分析师卢文正说，Sino Iron项目是中信泰富在国外未开发地区的主要项目。该公司可能低估了部分风险，不知道能否顺利投产。

在经济学上，外国直接投资一般可分为两种方式：“绿地投资”(GreenfieldInvestment)和跨国并购(M&A，即“褐地投资”)改革开放之初，包括美资在内的外国对华投资多采取“绿地投资”，即直接在华投资创建合资或独资企业。进入新世纪后，在华跨国并购正呈现急剧扩张之势，并逐渐成为跨国巨头对华直接投资的一种主要方式。

S&P slashes Citic Pacific rating

Demotion prompted by cost blowout at Australian Sino Iron mining development

Beijing-backed mining-to-property conglomerate Citic Pacific (SEHK: 0267) has been dealt a major blow by one of the world's leading credit risk assessment agencies.

Standard & Poor's slashed the company's credit rating to junk status yesterday and said it might downgrade the rating further.

The decision to demote Citic Pacific to a B-plus rating, which is one notch below what the agency calls "investment grade" and incredibly low for a firm backed by the central government, was sparked by Citic's revelation last week that the cost of its Sino Iron iron ore development in Western Australia had ballooned by US$900 million.

The project, which was already slated to cost US$5.3 billion had already suffered cost blowouts and delays. Analysts now say Citic Pacific probably did not understand the risks of its high-stakes foray into mining outside China.

"This is a major greenfield project outside the company's own market. They probably underestimated some of the challenges," Standard & Poor's Lawrence Lu said. "We are really not sure whether they can bring the project on stream.