BizStar page one on Aug 1.
PETALING JAYA: Standard & Poor’s Ratings Services (S&P) has placed Sime Darby Bhd
’s ratings on CreditWatch with negative implications, following the conglomerate’s proposed acquisition of a stake in New Britain Palm Oil Ltd (NBPOL).
The ratings agency said in a statement that its move to place Sime Darby’s “A” long-term corporate credit rating and “axAAA” long-term Asean regional scale rating on CreditWatch negative was because it expected Sime Darby’s net debt to increase by RM5.3bil following the proposed stake acquisition, which included the consolidation of NBPOL’s net debt of about RM800mil.
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