Jingu Finance | Meituan (03690) morning stock price rose, as of the press release, up 3.02%, at 123 Hong Kong dollars, with a turnover of 1.411 billion Hong Kong dollars.
Fitch Ratings raised the long-term issuer default rating of China's e-commerce company Meituan from 'BBB-' to 'BBB', with a positive outlook. Fitch also raised the senior unsecured ratings of Meituan and the ratings of its $0.75 billion notes due in 2025 and $1.25 billion notes due in 2030 from 'BBB-' to 'BBB'.
Fitch expects the scalability of Meituan's platform, the improvement of its core local business penetration rate, and the strategic shift from subsidy-driven investment to return-driven investment to support steady EBITDA growth and the generation of free cash flow in the medium term.
