Friday, Jun 17, 2016
MARC has assigned a final rating of AAAIS to Islamic Development Bank’s (IsDB) proposed Sukuk Wakalah (Sukuk) issuance of up to RM400.0 million by Tadamun Services Berhad (Tadamun), a trust established by IsDB for the purpose of issuing the sukuk. The outlook on the rating is stable.
Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the sukuk have not changed in any material way from the draft documentation on which the earlier preliminary rating of AAAIS was based.
Full details on the assigned rating have been provided in IsDB’s preliminary rating announcement on June 16, 2016. The Credit Analysis Report is available on MARC’s website at www.marc.com.my.
Contacts:
Afeeq Amiri, +603-2082 2256/ afeeqamiri@marc.com.my;
Sharidan Salleh, +603-2082 2254/ sharidan@marc.com.my.