KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has downgraded its rating on Press Metal Bhd
's outstanding RM317.5mil loan stocks with warrants from A- to BBB.
The ratings agency said on Wednesday the rating was placed on MARCWatch Negative pending greater clarity on the credit impact from the unexpected shutdown of Press Metal's aluminium smelting plant in Mukah, Sarawak, due to damage from the June 27 power outage.
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