Tuesday 15, April 2008 by
S&P rates Tabreed Sukuk
Standard & Poor's Ratings Services has assigned its BB long-term debt rating to the proposed non-deferrable, deeply subordinated mandatory convertible Ijarah Sukuk notes to be issued by Tabreed 08 Financing Corp., a special-purpose vehicle (SPV) subsidiary of UAE-based National Central Cooling Co. PJSC, Tabreed; BBB-/Stable/—, that is incorporated in the Cayman Islands. The maturity and size of the Ijara Sukuk notes remain subject to market conditions.
