Fitch Ratings has assigned Asya Katilim Bankasi A.S.’s (Asya) forthcoming Sukuk issue a ‘B+(exp)’ expected rating. The final rating is contingent upon receipt of final documentation conforming to information already received by Fitch.

Asya was incorporated in Turkey in 1996 as a financial institution to provide interest-free banking services and trades on the Istanbul stock exchange.

Fitch has 4 ratings on its ratings scale that qualify as investment grade: AAA, AA, A and BBB. The B rating assigned to Asya’s sukuk is considered junk status.

http://cpifinancial.net/v2/News.aspx?v=1&aid=10050&sec=Islamic%20Finance

 

 

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