Fitch affirms EI Sukuk's updated programme at 'A+'
Fitch Ratings has affirmed EI Sukuk's updated $2.5 bn certificate issuance programme's 'A+' rating on the basis of the final programme documents received. The Outlook on the IDR is Stable. The rating on the current outstanding certificates is driven by Emirates NBD's (ENBD) Long-Term IDR of 'A+'/Stable. This is due to the Sukuk structure where ENBD, as the guarantor, provides a direct and unconditional guarantee of EI's Sukuk obligations under the transaction documents.
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