S&P: IOI unaffected

Standard & Poor's said that IOI Corp. Bhd.'s (BBB+ with stable outlook) announcement on its successful tender for a 99-year leasehold land on Sentosa Island will not have any impact on the ratings or outlook on the company and its foreign-currency notes and term loan.

The proposed property development is not expected to have a significant impact on the company's financial profile as the new debt will only represent an increment of about 7% to its outstanding debt, S&P said.

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