Standard & Poor’s Ratings Services today assigned its ‘A’ long-term issue rating to a proposed $1.5 billion equivalent Sukuk issuance program by Sime Darby Global.
“The issuer is a special purpose vehicle incorporated in Malaysia that Sime Darby Bhd. (A/Stable/–; axAAA) owns. The programme benefits from a purchase undertaking that Sime Darby provides to cover any payment shortfall in a timely manner and redeem the full value of the Sukuk at maturity,” said Standard & Poor’s………………………………………..Full Article: Source