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S&P: BABA-W Has Ample Net Cash to Back Massive Investment Needs for 2026-27
Recommend 35 Positive 50 Negative 15 |
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BABA-W (09988.HK)(BABA.US) announced a proposed offering of approximately US$3.2 billion aggregate principal amount of Zero Coupon Convertible Senior Notes due 2032, with the funds intended to support its cloud infrastructure and international business development. S&P Global Ratings assigned an A+ issue rating to these notes, consistent with Alibaba's A+ issuer credit rating and Stable outlook, primarily reflecting the low subordination risk of these notes underpinned by the group's considerable net cash. According to S&P Global Ratings, Alibaba's debt includes approximately RMB75.5 billion in bank loans and RMB157 billion in senior unsecured notes (including the current convertible notes) as of June 30, while its cash and liquid investments reached RMB586 billion as of the end of June. The ample net cash was projected to support Alibaba's massive investment needs for 2026-27, and Alibaba was expected to be sweetened by strong growth momentum in cloud services and revenue enhancement in its core e-commerce business. AASTOCKS Financial News Website: www.aastocks.com |
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