Indonesian tanker owner Soechi Lines may struggle to refinance the remainder of an outstanding bond coming due early next year, according to Moody’s Investors Service.
As a result, the rating agency has changed the outlook on the 2023 notes issued by subsidiary Soechi Capital Pte from stable to negative.
“The change in outlook to negative reflects the increasing refinancing risk stemming from the remaining $57m outstanding on its bond coming due in January 2023,” said Stephanie Cheong, a Moody’s assistant vice president and analyst.
