More on NIG’s Sukuk Trouble
On July 24, 2012 · In Defaults, Islamic Bonds, Islamic Finance, Kuwait, National Industries Group (NIG), Shariah Bonds, Shariah Finance, SUKUK
As we reported yesterday, Kuwait’s National Industries Group has asked for a 4-year extension on repayment of its Islamic bond (sukuk). As might be suspected, NIG is in danger of becoming the next in line for the long line of defaults in the sukuk market. Moody’s is on the cusp on downgrading NIG’s rating: Moody’s […]
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