Fitch revises Suek view to negative

Fitch Ratings said it revised the outlook on Suek to negative from stable and affirmed the company’s rating at BB.

“The negative outlook reflects the combination of a highly acquisitive period and associated debt accumulation with coal market weakness due to coronavirus pandemic. This results in elevated leverage ratios, and we anticipate that deleveraging will take more time than previously expected,” Fitch said in a press release.

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