[UPDATED] Moody's, S&P project Grab's losses, and cash burn to continue well into 2023

Global rating agencies Moody’s and S&P Global have projected that Grab’s losses and cash burn will continue well into 2023 due to stiff competition from regional players such as Gojek and FoodPanda.

Moody’s and S&P Global assigned their first ratings on Grab on Monday – a B- and B3, respectively with a stable outlook.