The rating agency said on Tuesday it lowered our ratings on Press Metal because the company's growth aspirations make debt reduction and more prudent funding management less plausible until 2021 at the earliest.
KUALA LUMPUR: S&P Global Ratings has downgraded Press Metal
Aluminium Holdings Bhd from “BB-” to “B+” due to its continued high investments while its cash flow leverage to weaken over the next 12 to 18 months.
The rating agency said on Tuesday it lowered our ratings on Press Metal because the company's growth aspirations make debt reduction and more prudent funding management less plausible until 2021 at the earliest.
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