Pan Brothers under pressure to meet loan refi

By Pan Yue
20 Oct 2020

Indonesia’s Pan Brothers has requested Moody’s to withdraw its corporate issuer rating after a spate of downgrades this year, as the textile company struggles to put together a loan to meet some of its looming maturities.

Pan Brothers has been downgraded by Moody’s for the third time this year on the back of concerns around refinancing.  

The rating agency pushed Pan Brothers’ corporate family rating to Caa1 from B3, according to a release on October 16. It also downgraded the senior unsecured rating ...

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