S&P assigns 'BBB' to proposed USD sukuk certs by Malaysia's Axiata

October 28, 2015 5:01 AM

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KUALA LUMPUR Oct 28 Standard & Poor's Ratings has assigned its 'BBB' long-term issue rating to proposed U.S. dollar-denominated sukuk trust certificates by Axiata Group Bhd , Malaysia's biggest mobile phone operator by market value.

Axiata Group will issue the Islamic bond trust certificates through its special-purpose unit Axiata SPV2 Bhd. The proposed issue is the second drawdown under Axiata's multi-currency $1.5 billion sukuk program, which Standard & Poor's currently rates 'BBB'.

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