Press Release: Emaar Properties senior unsecured $500m trust certificates assigned 'BB' issue rating, recovery rating '3'
Standard & Poor's Ratings Services said today that it assigned its 'BB' issue rating to the $500m senior unsecured trust certificates to be issued by United Arab Emirates-based property company Emaar Properties PJSC (Emaar; BB/Negative/--) under the Trust Certificates Program launched by Emaar Sukuk Ltd., a special-purpose vehicle incorporated in the Cayman Islands.
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