KUALA LUMPUR: IOI Corporation Bhd needs to work out a concrete refinancing plan by September this year for its US$600mil (RM2.49bil) bond, representing around half its reported debt, which has one year left to maturity, Moody’s Investors Service said.
In a statement on Wednesday, it noted IOI Corp’s (Baa2 stable) credit quality will weaken if it is unable to clearly articulate a concrete refinancing plan by September 2021 that would eliminate near-term refinancing risk associated with this large debt maturity.
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