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Monday, 30 January 2017

Fitch Rates Bank of Sharjah's New EMTN Programme 'BBB+' | Reuters

Fitch Rates Bank of Sharjah's New EMTN Programme 'BBB+' | Reuters:

"(The following statement was released by the rating agency) DUBAI/LONDON, January 30 (Fitch) Fitch Ratings has assigned Bank of Sharjah's PJSC (BOS; BBB+/Stable/bb) new Euro Medium Term Note (EMTN) Programme a long-term rating of 'BBB+' and short-term rating of 'F2'. The ratings of the programme apply only to senior issuance. There is no assurance that notes issued under the programme will be assigned a rating, or that the rating assigned to a specific issue under the programme will have the same rating as the programme. KEY RATING DRIVERS The notes under the programme will be issued by BOS Funding Limited in the Cayman Islands. BOS Funding Limited is a fully owned subsidiary of BOS that is set up solely to act as the issuer of debt funding."



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