S&P revises Press Metal view to negative

S&P said it revised the outlook for Press Metal Aluminium Holdings Bhd. to negative from stable and affirmed the B+ ratings on the company and its guaranteed senior unsecured notes.

“We revised the outlook on PMB to negative because we believe weaker aluminum prices could depress the company's earnings over the next nine to 12 months. In addition, the current turbulence in capital markets could reduce funding availability at a time when the company is expanding its smelting capacity,” said S&P in a press release.

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