Moody’s revises Press Metal outlook to negative

Moody’s Investors Service said it revised the outlook on Press Metal Aluminum Holdings Bhd.’s and Press Metal Ltd.’s ratings to negative from stable

“The rating outlook is negative, reflecting Moody’s expectation of weaker credit metrics over the next 12-18 months as Press Metal pursues growth and increasing raw material security through debt-funded acquisitions and capacity expansion in a weak aluminum price environment,” said the agency in a press release.

Moody’s affirmed Press Metal’s corporate family rating of Ba3. Moody’s has also affirmed the backed senior unsecured rating of Ba3 for Press Metal Ltd.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.