Standard & Poor’s Ratings Services said that it assigned its ‘AA-’ long-term issue rating to the proposed U.S. dollar ijara trust certificates to be launched by Saudi Electricity Global SUKUK Co., a special purpose vehicle incorporated in the Cayman Islands.
The notes benefit from a purchase undertaking provided by Saudi Electric Co. (SEC; AA-/Stable/–) and are designed to cover any payment shortfall in a timely manner and to redeem the full value of the notes at maturity………………………………………..Full Article: Source