SINGAPORE (Standard&Poor's) May 16, 2012--Standard&Poor's Ratings Services today assigned its 'BBB+' long-term issue rating to the proposed US$1.5 billion euro medium-term notes (MTN) program that IOI Corp. Bhd. (IOI: BBB+/Stable/--; axA+) unconditionally and irrevocably guarantees. IOI Investment (L) Bhd., a wholly owned subsidiary of IOI, will issue the notes under the program. The notes will constitute a senior unsecured liability for IOI. IOI intends to use the proceeds of the drawdown to refinance debt maturities over the next 12 months and for general corporate purposes. We also expect the company to set aside some funds from the drawdown for its property development business. RELATED CRITERIA AND RESEARCH IOI Corp. Bhd. 'BBB+' Rating Affirmed On Steady Operating
