Fitch rates Mumtalakat sukuk BB-

Fitch Ratings said it assigned Bahrain Mumtalakat Holding Co.'s $500 million senior unsecured sukuk certificates due Jan. 21, 2027 a BB- rating. The certificates are issued through Mumtalakat Sukuk Holding Co. under Mumtalakat sukuk trust certificate issuance program. The rating is in line with Mumtalakat's long-term issuer default rating and senior unsecured rating.

MSHC is the issuer of the certificates and trustee. MSHC is an exempted company with limited liability incorporated in the Cayman Islands, which has been established for the sole purpose of issuing the certificates and is owned by Mumtalakat.

Proceeds will be used for general corporate purposes.

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