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| Title: | Dubai Islamic Bank’s Sukuk Trust Certificates Assigned ‘A’ Preliminary Rating |
| Price: | $100.00 |
| Publication Date: | Feb 15, 2007 |
| Report Type: | News |
| Abstract: | PARIS (Standard&Poor’s) Feb. 15, 2007–Standard&Poor’s Ratings Services said today that it had assigned its ‘A’ preliminary rating to Dubai Islamic Bank’s U.S. dollar floating-rate sukuk trust certificates due 2012 (see list below). The transaction involves a special-purpose company incorporated in accordance with the laws of the Cayman Islands, DIB Sukuk Co. Ltd., issuing rated “musharaka sharikat melk” (co-ownership) sukuk trust certificates. The proceeds of the sukuk will be ultimately used for general funding purposes of DIB, which will sell a given percentage of a pool of assets to the issuer. These assets, originated and managed by DIB, will be co-owned by both DIB and the issuer. The rationale for this transaction is to allow DIB to |
| Brief Excerpt: | RESEARCH Ratings Definitions Dubai Islamic Bank’s Sukuk Trust Certificates Assigned ‘A’ Preliminary Rating Publication date: ##-Fe###### PARIS (Standard & Poor’s) Feb. ##, ####–Standard & Poor’s Ratings Services said today that it had… |
| Word Count: | 790 |
| Issuer: | Dubai Islamic Bank |
| GICS: | Investment Banking & Brokerage (40203020) |
| Sector: | Global Issuers, Financial Institutions |
| Country: | United Arab Emirates |
| Region: | Europe, Middle East, Africa |
| Format: | HTML |
| Free Sample: | Click Here to Download |
