Fitch assigns Binghatti sukuk B+

Fitch Ratings said it assigned Binghatti Holding Ltd.'s senior unsecured sukuk trust certificates, issued through Binghatti Sukuk SPC Ltd. a B+ expected rating. The recovery rating is RR4.

The rating is derived from Binghatti's issuer default rating. This reflects Fitch's view that a senior unsecured obligation default would reflect a default of Binghatti, under the agency's rating definitions, Fitch said.

The outlook is positive.

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