Sime Darby rating lowered to BBB+ : S&P's

KUALA LUMPUR: Standard & Poor's has lowered the credit ratings on Sime Darby Bhd to BBB+ from A-, with a negative outlook. The rating agency was concerned about the company's plan to reduce its debts which stood at RM16.6 billion as at end of last year. "We lowered the ratings because of uncertainties in the implementation of Sime Darby's deleveraging measures," said Standard & Poor's credit analyst Bertrand Jabouley.