International Islamic Liquidity Management 2 SA's US$500 million landmark Islamic Finance program assigned 'A-1' rating

Standard & Poor's Ratings Services said that it has assigned its 'A-1' rating to International Islamic Liquidity Management 2 SA's US$500 million Islamic finance program. The vehicle has been established with the sole purpose of purchasing sovereign, sovereign-linked or supranational sukuk assets with long-term ratings that correspond to an 'A-1' rating. In addition, the vehicle is to issue short-term Sharia-compliant certificates with maturity profiles of less than one year. IILM will act as the program administrator of the vehicle.