The TCIP benefits from a guarantee provided by the IDB; therefore, its rating is in line with IDB's Long-Term Issuer Default Rating (IDR) of 'AAA' with a Stable Outlook.
The trust certificates will take the form of Sukuk, a financing instrument compliant with Shariah law, and will be used to finance planned growth in the IDB's operations.
By assigning ratings to the programme and certificates issued under it, Fitch does not express an opinion on the programme structure's compliance with Shariah principles nor whether the relevant transaction documents are enforceable under any applicable law, including, without limitation, Saudi Arabian law.
Contact:Primary Analyst:Amelie RouxDirector+33 1 44 29 92 82Fitch France S.A.S.60 Rue de Monceau 75008 Paris, FranceSecondary Analyst:Eric Paget-BlancSenior Director+33 1 44 29 91 33Committee ChairpersonRichard FoxSenior Director+44 20 3530 1444Media Relations: Peter Fitzpatrick, London, Tel: +44 20 3530 1103, Email: email@example.com.
Additional information is available at www.fitchratings.com.
© Copyright Zawya. All Rights Reserved.