Abu Dhabi Commercial Bank's proposed sukuk trust certificates assigned 'A' sssue rating

Standard & Poor's Ratings Services assigned its 'A' issue rating to the proposed sukuk trust certificates to be launched late November, subject to investor demand, by ADCB Islamic Finance (Cayman) Limited, a special purpose company (SPC) of Abu Dhabi Commercial Bank (ADCB; A/Stable/A-1).
The rating on the five-year US$750 million trust certificates shows ADCB's irrevocable undertaking to purchase the assets held by the issuer at the redemption date of the sukuk.
ADCB has implied that the aim of this sukuk is to enable it to raise funds in accordance with Sharia law, and use them for general funding purposes.