Medco Energi Internasional Tbk (P.T.): Update following change in outlook to positive
Our credit view of this issuer reflects its very good liquidity and strong credit metrics, offset by its acquisitive growth appetite and its exposure to volatility in oil price.P.T. Medco Energi International is an integrated energy company based in Indonesia. Co.'s business activities consist of oil and gas exploration, development and production; LPG production; onshore and offshore drilling services; methanol production and power generation. Co. focuses on two main business activities in oil & gas exploration, development and production, and a Power generation with a third business focusing in renewable fuels. Co. maintains operational areas in Indonesia, Cambodia, Oman, Yemen, Libya, Tunisia, and United States including 1 Methanol, 1 LPG plant, and 3 power plants. Co. has 16 producing assets with a total oil and gas production of 19.9 MMBO and 55.6 BCF.
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