Tilal Sukuk - National Scale Rating Lowered; Outlook Remains Negative

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the Oman National Scale rating for the USD137mn trust certificates (Sukuk) issued by Tilal Sukuk Company Ltd (TSC) to 'omB' from 'omBBB+'. TSC is a Cayman Islands-registered special purpose vehicle (SPV) established by Tilal Development Company SAOC (TDC) based in Oman. The Outlook for the rating remains Negative.

Attachments

• Rating Announcement (CRA)
  PDF Download Available