[ET Net News Agency, 19 October 2020] Moody's Investors Service has assigned a "Baa3"
issuer rating to Meituan Dianping (03690). In addition, Moody's has assigned a Baa3
senior unsecured rating to the proposed notes to be issued by Meituan.
It said the outlook on all ratings is stable.
Meituan will use the proceeds from the proposed issuance for general corporate purposes.
"The Baa3 ratings reflect the company's leading market positions in China's food
delivery, in-store, hotel and travel services, and the fact that it has been able to
leverage its established food delivery business to cross-sell high-margin hotel booking
and in-store services, thereby improving its overall consolidated profit margins," said
Ying Wang, a Moody's Vice President and Senior Analyst.
"The ratings also consider Meituan's track record of monetizing benefits from Tencent
Holdings Limited's strategic investment in the company since 2015, as well as its strong
liquidity profile with a net cash position," added Wang. (KL)
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03690 MEITUAN-W
Nominal 
95.000 -2.750 (-2.813%) Others
19/10/2020 14:23
Moody's assigns first-time Baa3 ratings to Meituan; stable
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