Modern Sukuk S.A.O.C. – OMR50mn Sukuk – Rating on the Oman National Scale Reaffirmed at ‘omBBB+’

Overview

Capital Intelligence (CI), the international credit rating agency, today announced that it has reaffirmed the rating on the Oman National Scale of 'omBBB+' of the OMR50mn Sukuk issued by Modern Sukuk S.A.O.C. The Sukuk matures in October 2018. The rating is supported by the almost fully complete (i.e. except for the serviced apartments) status of Phase 1 of the project and the fact that both offices and mall space are now nearly fully let on long term leases – providing an assured source of stable cash inflow.

Attachments

• View Credit Rating Announcement (CRA)
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