{
    "success": true,
    "data": {
        "id": 1353754,
        "msgid": "medco-proposed-notes-rated-b-1447893297",
        "date": "2003-05-06 00:00:00",
        "title": "Medco proposed notes rated B+",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "Medco proposed notes rated B+ JAKARTA: International rating agency Standard & Poor's (S&P) assigned its B+ rating to Indonesian oil and gas company PT Medco Energi International with senior unsecured notes issue of around US$200 million due in 2010. Proceeds from the new debt will be used primarily to fund Medco's acquisition of petroleum assets in 2003 and its intensive exploration.",
        "content": "<p>Medco proposed notes rated B+<\/p>\n<p>JAKARTA: International rating agency Standard &amp; Poor's (S&amp;P)<br>\nassigned its B+ rating to Indonesian oil and gas company PT Medco<br>\nEnergi International with senior unsecured notes issue of around<br>\nUS$200 million due in 2010.<\/p>\n<p>Proceeds from the new debt will be used primarily to fund<br>\nMedco's acquisition of petroleum assets in 2003 and its intensive<br>\nexploration.<\/p>\n<p>In a press release, S&amp;P said Medco's $200 million debt is<br>\nwithin S&amp;P's expectation of Medco's capital structure, whereby<br>\ntotal debt to capital could rise to 50-60 percent (from 16<br>\npercent in December, 2002) in the near-to-medium term, depending<br>\non the implementation of planned activities and acquisition.<\/p>\n<p>S&amp;P also said the rating reflected the company's short proved<br>\nreserves life index of 4.8 years, which explains the company's<br>\nplans to acquire producing oil blocks in 2003, in addition to<br>\ndeveloping its gas reserves, to immediately add to its proven<br>\nreserve base and production volume. -- JP<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/medco-proposed-notes-rated-b-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}