Moody’s downgrades Sime Darby Plantation

Moody's expects Sime Darby Plantation's adjusted leverage will decline to around 3.7 times over the next 12 months from around five times as of December 2019.

PETALING JAYA: Sime Darby Plantation Bhd’s (SDP) issuer rating has been downgraded by Moody’s Investors Service to Baa2 from Baa1.

The rating house also downgraded the rating on the US$1.5bil senior unsecured medium term note programme of its unit, Sime Darby Global Bhd, to (P)Baa2 from (P)Baa1, and backed senior unsecured debt rating on the sukuk to Baa2 from Baa1.