Moody's: IOI under pressure

Moody's Investors Service said that IOI Corp.'s full year results for 2012 continue to indicate some pressure on the company's Baa1 ratings, as reflected in the negative outlook.

"IOI's FY2012 results showed a continuing decline in its credit metrics, which could lead to its ratings coming under pressure. IOI's ongoing strong liquidity provide some relief amidst a challenging business landscape, high shareholder returns, and an ambitious growth strategy into property development that results in significant cash outlays," Moody's vice president and senior credit officer Alan Greene said in a news release.

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