Moody’s Investors Service has downgraded the corporate family rating of Sawit Sumbermas Sarana (SSMS) to B3 from B2. At the same time, Moody’s has downgraded the senior unsecured rating on the US$300 million notes issued by its wholly-owned subsidiary, SSMS Plantation Holdings Pte. Ltd. to B3 from B2. The outlook on the ratings remains negative.
