BB for Turkey Sukuk

Standard & Poor’s has rated Turkey's debut $1.5bn Sukuk lease certificates that fall due in 2018 'BB'. The issuance of the Ijarah certificates will be conducted by Hazine Mustesarligi Varlik Kiralama Anonim Sirketi. The assets underlying the lease consist of buildings and land owned by the country. The transaction further allows the state to sells a pool of property assets to the issuer.

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