Sunday 31, January 2010 by

RAM Ratings reaffirms ratings of Golden Crop’s Sukuk Al-Ijarah

“The reaffirmation is premised on the plantations’ performance, which has fallen within our expectations, as well as loan-to-value (LTV) ratios and debt service coverage ratios (DSCRs) that commensurate with their respective ratings. Golden Crop is a bankruptcy-remote, special-purpose company that had been set up as the financing vehicle for the sale-and-leaseback transaction involving 17 plantations and 5 mills under the purview of entities within the Boustead Holdings Group,” a statement from RAM said.  

Features & Analyses

Islamic Finance The path forward

After years of milestones, Islamic finance in Dubai and beyond still has work to do, writes Abdulla Mohammed Al Awar, CEO of DIEDC read more