Moody's assigns Mexim sukuk A3

Moody's Investors Service said it assigned an A3 rating to EXIM Sukuk Malaysia Bhd.'s proposed dollar-denominated senior unsecured fixed-rate sukuk.

The outlook is positive.

Moody's said the A3 rating is at the same level as the A3 foreign-currency senior unsecured debt rating of Export-Import Bank of Malaysia Bhd. (Mexim).

The proposed sukuk will be issued pursuant to EXIM Sukuk Malaysia's $1 billion multicurrency sukuk issuance program.

The rating reflects Moody's opinion that the sukuk certificate holders effectively have a claim against Mexim, ranking pari passu with other senior unsecured obligations.

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