Sunday 07, April 2013 by Robin Amlôt

International Islamic Liquidity Management 2 SA's $500 million Programme assigned 'A-1' Rating

International Islamic Liquidity Management (IILM) 2 SA is a financing vehicle established to issue short-term Shari’ah-compliant money-market instruments backed by long-term sovereign Sukuk. The ‘A-1’ rating reflects, among others, the vehicle's eligibility criteria that require assets to have an 'A-1' rating, and structural considerations, including principal, profit, and liquidity tests governing new issuances. The rating also incorporates liquidity support currently in the form of a $500 million primary-dealer agreement with Standard Chartered Bank.

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