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Moody's changes Medco view to negative
Moody’s Investors Service said it changed the outlook for Medco Energi Internasional Tbk. to negative from stable and affirmed the B1 ratings on the backed senior unsecured bonds issued by Medco Strait Services Pte. Ltd., Medco Platinum Road Pte. Ltd., Medco Oak Tree Pte. Ltd. and Medco Bell Pte. Ltd.
The agency cited the steep decline in oil prices for the change in outlook. Medco’s credit profile will likely deteriorate if prices remain low, the agency said.
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