Sime Darby Motors listing delay contributes to Sime rating down-grade

Standard & Poor

PETALING JAYA: Sime Darby Bhd’s delay in listing its auto unit, Sime Darby Motors Bhd, has partly contributed to the conglomerate being accorded a lower rating by Standard & Poor’s Ratings Services (S&P).

The rating agency said in a statement that it had lowered its long-term corporate credit rating on Sime Darby to A- from A, while the outlook was rated negative.