Fitch rates FGB certificates program A+

Fitch Ratings said it assigned FGB Sukuk Co. Ltd.'s $3.5 billion trust certificate issuance program a long-term rating of A+.

The outlook is stable.

The rating reflects First Gulf Bank's long-term issuer default rating of A+ due to the bank's obligation to pay FGB Sukuk on the scheduled or any earlier dissolution dates, the agency said.

First Gulf Bank has an A+ long-term issuer default rating and F1 short-term issuer default rating.

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