On 8th January 2021, the bond credit rating business of Moody's Corporation, Moody's Investors Service had withdrawn Press Metal Aluminium Holdings Bhd's Ba3 corporate family rating and negative outlook for business reasons.
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.
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."
"With three smelting plants in Malaysia alone, we have an annual capacity of 760,000 tonnes of primary aluminium production," the company said.
source https://www.alcircle.com/news/moody-s-lifts-press-metal-aluminiums-rating-for-business-reasons-62473
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