The Business Times
business-time-50

Fitch says Alibaba’s new structure will not impact credit profile

google-preferred-sourceAdd BT as a preferred source
Published Tue, Apr 4, 2023 · 04:55 PM
    • Fitch said that it expected Alibaba’s new governance structure to enhance its ability to respond rapidly to changes in the market and competition, improve management accountability and increase transparency to regulatory authorities.
    • Fitch said that it expected Alibaba’s new governance structure to enhance its ability to respond rapidly to changes in the market and competition, improve management accountability and increase transparency to regulatory authorities. PHOTO: REUTERS

    FITCH Ratings on Tuesday (Apr 4) said that it doesn’t expect Alibaba Group Holding’s new structure to bring about an immediate change in its credit profile.

    The credit rating agency said that it expected the group’s new governance structure to enhance its ability to respond rapidly to changes in the market and competition, improve management accountability and increase transparency to regulatory authorities.

    Alibaba previously said it was planning to split into six units and explore fundraisings or listings for most of them, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises.

    Fitch also said that the structural subordination of Alibaba’s current debt will not pose a significant credit risk, and that the company could unlock value through spin-offs or IPOs. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    The company says the disputes do not cast significant doubt on its viability as a going concern.

    Koh Brothers Eco Engineering faces up to S$57.6 million in potential legal liabilities

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    The deal for the sale of Scotts Square mall, just off Orchard Road, is said to be in the early stages of being worked out, at a price of about S$320 million.

    Father-and-son duo Raj Kumar and Kishin in exclusive due diligence to buy Scotts Square

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More