Moody’s rates Third Pakistan sukuk B3

Moody's Investors Service said it assigned a senior unsecured rating of B3 to the dollar-denomianted trust certificates issued by the Third Pakistan International Sukuk Co. Ltd., a special purpose vehicle established in Pakistan by the Islamic Republic of Pakistan.

Moody’s said the B3 rating is at the same level as the Government of Pakistan's (B3 stable) issuer rating, reflecting the agency’s view that the sukuk certificate holders will effectively be exposed to the sovereign credit risk incorporated in the government's issuer rating.

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