- Language: English
- 774 Pages
- Published: October 2012
- Region: Global
Axiata Group Bhd. Sukuk Program Assigned 'BBB-' Issue Rating Jul 12
- Published: July 2012
- Standard & Poors
MELBOURNE (Standard & Poor's) July 19, 2012--Standard & Poor's Ratings Services today assigned its 'BBB-' long-term issue rating to the multi-currency US$1.5 billion equivalent sukuk program of Malaysia-based telecommunications holding company Axiata Group Bhd. (BBB/Positive/--; axA+/--). Axiata Group will issue the program through Axiata SPV2 Bhd. The issue rating reflects the strength of the transaction documentation, including the lease, wakala, murabaha, and purchase-undertaking agreements. Under these agreements, Axiata Group is obliged to make all payments needed to ensure that the issuer has sufficient funds to pay the certificate holders in a timely manner. Our long-term corporate credit rating on the group forms the basis of our credit assessment of the sukuk program. Axiata SPV2 is a Malaysia-domiciled special purpose vehicle...
Companies mentioned in this report are: Axiata Group Bhd.
Action: New Rating
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Research type: News
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Axiata Group Bhd.