Moody’s changes Sime Darby view

Moody's Investors Service said it affirmed the Baa1 issuer rating of Sime Darby Plantation Bhd.

Moody's also affirmed the Baa1 backed senior unsecured debt rating on the sukuk issued by Sime Darby Global Bhd.

At the same time, Moody's revised the outlook to negative from stable.

“The change in SDP's ratings outlook to negative reflects our expectation that its credit metrics will remain weak for its Baa1 ratings over the next 6-12 months, despite its planned MYR1 billion debt reduction from asset sale proceeds this year,” Maisam Hasnain, Moody's assistant vice president and analyst, said in a news release.

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