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Moody's raises Grab's ratings to 'B2' on Nasdaq debut
The rating upgrade reflects the improvement in Grab's liquidity and financial flexibility following its public listing, said Moody's analyst Stephanie Cheong in a report on Friday (Dec 3).
"More importantly, the listing fully eliminates the redemption risk associated with its convertible redeemable preference shares, which had weighed on the company's credit profile," she added.