Fitch assigns Medco Energi notes B+

Fitch Ratings said it assigned PT Medco Energi Internasional Tbk.'s planned senior notes to be issued by its wholly owned subsidiary, Medco Laurel Tree Pte. Ltd., a B+ rating and a recovery rating of RR4.

“The notes, which are guaranteed by Medco and some of its key subsidiaries, are rated at the same level as Medco's issuer default rating (IDR), as the notes constitute its direct, unsubordinated and unsecured obligations,” Fitch said in a press release.

Medco will use the proceeds to complete its planned acquisitions or to refinance some of its U.S. dollar notes coming due in 2025 and 2026.

The outlook is stable.

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