Moody’s downgrades Sime Darby’s sukuk and notes

KUALA LUMPUR: Moody’s Investors Service has downgraded the outlook for Sime Darby Bhd’s sukuk and medium-term note (MTN) programme to “negative” as the diversified conglomerate – which is involved in plantations, property and motors – had been impacted across the board.

The international ratings agency said yesterday that Sime Darby was affected by the slower rate of growth in China and most Asia-Pacific economies, lower commodity prices and a weaker ringgit.