Fitch rates GFH Sukuk Company Limited's USD certificates 'B(EXP)'/'RR4'
Fitch Ratings - London - 13 January 2020: Fitch Ratings has assigned GFH Financial Group BSC's (GFH) US dollar certificates, to be issued through GFH Sukuk Company Limited (GFH SCL), an expected rating of 'B(EXP)'/'RR4'. The expected rating is in line with GFH's Long-Term Issuer Default Rating (IDR) of 'B'.
The assignment of final ratings is contingent upon receipt of final documents conforming to information already received by Fitch.
GFH SCL, the issuer and trustee, is a special purpose vehicle (SPV), incorporated in the Cayman Islands, as a trust for charitable purposes with share capital being held by Walkers Fiduciary Limited. GFH SCL was established solely to issue certificates (sukuk). The trustee has been incorporated solely for the purpose of participating in the transactions contemplated by the transaction documents.
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