RAM Ratings assigns AA3 rating to AmIslamicâ€™s proposed Sukuk Musharaka programme
RAM Ratings has assigned an AA3 rating to AmIslamic Bank Berhad’s proposed MYR 3 billion ($935.8 million) Senior Sukuk Musyarakah Programme. At the same time, RAM Ratings has reaffirmed AmIslamic’s long- and short-term financial institution ratings at AA3 and P1, respectively. Concurrently, the long-term rating of the bank’s MYR 400 million ($124.3 million) Subordinated Sukuk Musyarakah (2006/2016) has been reaffirmed at A1. All the long-term ratings have a stable outlook.