Corporate and infrastructure sukuk issuance in GCC seen muted in H1: S&P

Corporate and infrastructure sukuk issuance in GCC seen muted in H1: S&P:

Corporate and infrastructure sukuk issuance in the Gulf Co-operation Council (GCC) region was seen muted in the first half of 2018, according to Standard and Poor’s (S&P), an international credit rating agency.

Five issuers raised around $2.6bn in total, representing a 60% decline compared to the $6.5bn in the first half of 2017, S&P said in a report.

“There are a number of factors at play, including somewhat diminished funding needs, as many GCC corporates continue to operate with relatively limited investment programmers,” S&P primary credit analyst Timucin Engin said.