S&P rates Medco notes B+

S&P said it assigned a B+ long-term issue rating to U.S. dollar-denominated senior unsecured notes that Medco Maple Tree Pte. Ltd. plans to issue. Medco Maple Tree is a wholly owned indirect subsidiary of Medco Energi Internasional Tbk., which will guarantee the notes. S&P rates Medco Energi B+.

Medco Maple Tree will lend the bond proceeds to Medco to tender for or refinance its debt, among other uses.

Medco Energi is concurrently tendering for all its outstanding U.S. dollar-denominated senior unsecured notes maturing in 2025, and a capped tender offer for the notes maturing in 2026, 2027 and 2028.

The outlook is stable.

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