Moody's: Emaar certificates B1

Moody's Investors Service said it assigned a B1 rating to the proposed dollar-denominated trust certificates to be issued by Emaar Sukuk Ltd., a special purpose vehicle of Emaar Properties PJSC.

The outlook is stable.

Moody's said the B1 rating assigned to the sukuk is in line with the B1 rating that it previously assigned the $2 billion trust certificate program on Jan. 18, 2011.

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