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FINANCIAL NEWS
Rating of Bahrain Mumtalakat rises
15 Aug 2013
(MENAFN) Bahrain Mumtalakat Holding Company established a USD one-billion program in Malaysia, the Sukuk Murabaha, with the rating of which reassured at AA2.
Mahmood Al Kooheji, Mumtalakat chief executive, said: “The strength of our business strategy and sustainability of favourable long-term financial prospects have been underscored with RAM Rating Services’ reaffirmation of the AA2 long-term rating and stable outlook of Mumtalakat’s sukuk programme.”
Mahmood added: “This rating also underlines Mumtalakat’s strong connection to the Bahrain government and the success of our joint and on-going efforts to further develop the kingdom’s private sector economy through investment and innovation.”
“We believe we are the partner of choice for those looking to invest in Bahrain and the GCC due to our strong corporate governance practices and our stringent financial discipline,” he added.
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