Moody's rates Asya sukuk Ba3

Moody's Investors Service said it assigned a Ba3 rating to the foreign-currency subordinated sukuk certificates due 2023 of Asya Sukuk Co. Ltd. The outlook is stable.

The Ba3 rating is positioned one notch below Asya Katilim Bankasi AS' adjusted standalone credit assessment. This is due to the fact that ultimately all the payment obligations within the structure remain with the bank (Ba1/non-Prime/stable), Moody's said.

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