Moody's assigns first-time Ba3 CFR to Press Metal; outlook stable
Rating Action: Moody's assigns first-time Ba3 CFR to Press Metal; outlook stable. Global Credit Research- 16 Oct 2017. Singapore, October 16, 2017-- Moody's Investors Service has assigned a Ba3 corporate family rating to Press Metal Aluminium Holdings Berhad.Press Metal is engaged in the manufacturing and marketing of aluminum products. Through its subsidiaries, Co. is engaged in: Contracting, fabrication and manufacturing of aluminum and stainless steel products; Trading of garments and accessories; and Provision of a common waste water treatment plant to treat toxic waste. Co. operates two segments: manufacturing and trading, which includes manufacturing and marketing of aluminum products and garments and accessories, and contracting; and fabrication, which includes contracting and fabrication of aluminum and stainless steel products. Co.'s other segments include operations related to property development and recycling and waste management.
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