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Fitch Upgrades XIAOMI-W to ‘BBB+’ w/ Stable Outlook
Recommend 38 Positive 68 Negative 23 |
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Rating agency Fitch upgraded XIAOMI-W (01810.HK)'s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) from 'BBB’ to ‘BBB+’. The Outlook is Stable. Fitch also upgraded the senior unsecured rating from ‘BBB’ to ‘BBB+’. The upgrade reflects XIAOMI-W's strengthened EBITDA generation, driven by increased profit from its IoT and internet service segments, as well as continued improvement in EV profitability, Fitch added. XIAOMI-W's sound EV execution and disciplined financial policy will support strong financial profile, with robust free cash flow and low EBITDA leverage. Greater diversification across segments will buffer the Company against volatility in the smartphone segment. AAStocks Financial News Website: www.aastocks.com |
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