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Development Bank of Kazakhstan Sukuk program assigned ‘BBB+’ issue rating

Posted on 04 July 2012

Standard & Poor’s Ratings Services said today that it has assigned its\’BBB+’ issue rating to the Malaysian ringgit (MYR) 1.5 billion Islamic medium-term note program launched by the Development Bank of Kazakhstan (DBK; BBB+/Stable/A-2).
The rating on the program and any issuance under it is linked to the issuer credit rating on the DBK. We believe the rationale for the transaction is to raise funds in accordance with the Islamic principle of Murabahah, with commodities as underlying assets………………………………………..Full Article: Source

 
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