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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Performance more

Moody’s downgrades JAFZ’s $2bln sukuk

Posted on 10 July 2009

From Arabianbusiness.com: Dubai government-run entity Jebel Ali Free Zone’s (JAFZ) AED7.5bn ($2bn) sukuk had its credit rating slashed to A2 from A1 at Moody’s Investors Service.
Citing financial challenges facing JAFZ’s parent company Dubai World, the credit ratings agency also downgraded by the same level the foreign and local issuer currency issuer ratings of JAFZ and placed them under review for further possible downgrade……..Full Article: Source

 
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