MISC Cap's US$1.55b loan facility rated 'BBB'

A US$1.55 billion syndicated loan facility by special purpose vehicle MISC Capital (L) Ltd has been given a "BBB" long-term issue rating by Standard & Poor's Ratings Services.

This loan is guaranteed irrevocably and unconditionally by MISC Bhd.

"The group expects to use the proceeds for refinancing its existing facility. We believe this would improve the company's debt maturity profile and support our liquidity assessment," the ratings agency said on Wednesday.