Fitch rates Mexim sukuk A-

Fitch Ratings said it assigned a final rating of A- to Export Import Bank of Malaysia Bhd.'s (Mexim) $300 million 2.874% sukuk due 2019.

The Islamic bonds are issued under Mexim's $1 billion multi-currency sukuk program established through EXIM Sukuk Malaysia Bhd., Fitch said.

This follows the completion of the Islamic bond issue and receipt of final documents conforming to information previously received, the agency said. The final rating is the same as the expected rating assigned Feb. 10, Fitch said.

The sukuk rating is the same as Mexim's long-term issuer default rating. This is because the sukuk effectively represents unsecured obligations of the bank, Fitch said, and ranks equally with all its other unsecured and unsubordinated obligations.

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