“IOI Corp has an established position as an efficient palm oil producer with integrated operations across the palm oil value chain, a track record of managing profitability through multiple commodity price cycles, and the ability to benefit from the favorable long-term demand for palm oil, ” Moody's said
KUALA LUMPUR: IOI Corp 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, according to Moody’s Investors Service.
In a statement, it noted that IOI Corp’s (Baa2 stable) credit quality will weaken if it is unable to clearly articulate a concrete refinancing plan by September that would eliminate near-term refinancing risk associated with this large debt maturity.
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