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Title: Dubai Islamic Bank’s Sukuk Trust Certificates Assigned ‘A’ Preliminary Rating
Price: $100.00 
Publication Date: Feb 15, 2007
Report Type: News
Abstract: PARIS (Standard&Poor’s) Feb. 15, 2007–Standard&Poor’s Ratings Services said today that it had assigned its ‘A’ preliminary rating to Dubai Islamic Bank’s U.S. dollar floating-rate sukuk trust certificates due 2012 (see list below). The transaction involves a special-purpose company incorporated in accordance with the laws of the Cayman Islands, DIB Sukuk Co. Ltd., issuing rated “musharaka sharikat melk” (co-ownership) sukuk trust certificates. The proceeds of the sukuk will be ultimately used for general funding purposes of DIB, which will sell a given percentage of a pool of assets to the issuer. These assets, originated and managed by DIB, will be co-owned by both DIB and the issuer. The rationale for this transaction is to allow DIB to
Brief Excerpt: RESEARCH Ratings Definitions Dubai Islamic Bank’s Sukuk Trust Certificates Assigned ‘A’ Preliminary Rating Publication date: ##-Fe###### PARIS (Standard & Poor’s) Feb. ##, ####–Standard & Poor’s Ratings Services said today that it had…
Word Count: 790
Issuer: Dubai Islamic Bank
GICS: Investment Banking & Brokerage (40203020)
Sector: Global Issuers, Financial Institutions
Country: United Arab Emirates
Region: Europe, Middle East, Africa
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