Moody's: Agri bonds will be repaid on time

Moody's Investors Service said that it expects the $150 million of bonds issued by AI Finance BV and guaranteed by Agri International Resources Pte. Ltd. to be repaid on time, following the efforts made by Agri's parent company, Bakrie Sumatera Plantations to refinance the bond.

Once confirmed, a successful refinancing and repayment of the bond could lead to some upward pressure on both corporate family ratings.

"Based on the good prospects for the palm oil sector, the repayment of the bond may be the first step in what could be the long-drawn out recovery of Bakrie Sumatera Plantations' rating," Moody's vice president and senior credit officer Alan Greene said in a news release.

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