Though the typically cheerleading article linked below doesn’t provide a detailed explanation (no surprise there), Moody’s has assigned a negative outlook on a major Islamic bond offering by a Shariah-compliant bank in the UAE, site of some of the most infamous sukuk defaults over the years…
The outlook on FGB’s ratings is negative and therefore the outlook on the sukuk trust certificates is also negative.
http://www.ameinfo.com/270501.html
