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09 FEBRUARY 2021 AL CIRCLE

Moody's lifts Press Metal Aluminium’s rating for business reasons

EDITED BY : RUPANKAR MAJUMDER 1MINS READ

On 8th January 2021, the bond credit rating business of Moody's Corporation, Moody's Investors Service had withdrawn Press Metal Aluminium Holdings Bhd's Ba3 corporate family rating and negative outlook for business reasons.

Moody's lifts Press Metal Aluminium’s rating

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The bond rating firm said: "Moody's has decided to withdraw the rating for its business reasons.”

However, the American financial services firm did not clarify any specific reasons behind the withdrawal of Press Metal’s rating.

Moody's lifts Press Metal Aluminium’s rating

Press Metal initiated as a local aluminium extrusion company in 1986 and after over 30 years of growth, the company proclaims that presently it a globally integrated aluminium producer with the largest presence in Southeast Asia.

Press Metal said: "From upstream smelting activities to downstream extruding operations, Press Metal is a fully integrated producer of aluminium products."

Report on Global Aluminium Outlook 2021

"With three smelting plants in Malaysia alone, we have an annual capacity of 760,000 tonnes of primary aluminium production," the company said.


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EDITED BY : RUPANKAR MAJUMDER 1MINS READ

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