Fitch rates IOI Corp. A-

Fitch Ratings said it assigned a long-term foreign currency issuer default rating of A- to Malaysia-based IOI Corp. Bhd. and an A- rating to the $500 million notes due 2015 issued by IOI Ventures Bhd. and guaranteed by IOI Corp.

The outlook is stable.

The issuer default rating reflects IOI Corp.'s robust profit and cash-flow generation ability despite its exposure to inherently cyclical industries, the agency said, and is not constrained by the Malaysian sovereign issuer default rating of A-.

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