Moody’s assigns Medco notes B1

Moody’s Investors Service said it assigned a B1 rating to the planned dollar-denominated backed senior unsecured notes to be issued by Medco Laurel Tree Pte. Ltd., a wholly-owned subsidiary of Medco Energi Internasional Tbk. Medco Energi and some of its subsidiaries will guarantee the notes.

The proceeds will be initially kept in an escrow account and will ultimately be used either to refinance existing indebtedness or to fund acquisition or investments. The notes will be used to repay indebtedness at Medco's restricted group if Medco does not enter into an acquisition agreement before Sept. 30, 2022.

Moody's also affirmed the B1 ratings on the backed senior unsecured bonds issued by Medco Platinum Road Pte. Ltd., Medco Oak Tree Pte. Ltd. and Medco Bell Pte. Ltd. These bonds are guaranteed by Medco Energi. Concurrently,

The outlook is negative.

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