S&P Global Ratings revises outlook for Press Metal

This proposed acquisition via its 80%-owned subsidiary, Press Metal Bintulu Sdn Bhd will enable PMetal to access 5% of the annual production of WAP, which amounts to 230,000 tonnes of alumina p.a which is 15% of PMetal

PETALING JAYA: S&P Global Ratings has lowered the ratings outlook for Press Metal Aluminium Holdings Bhd from positive to stable to reflect its slower deleveraging and continued increase in working capital and short-term debt.

The rating agency affirmed its issue rating of ‘BB-’ on the aluminium smelter.