Abu Dhabi - Mubasher: Fitch Ratings assigned Bank of Sharjah's (BOS) new Euro Medium Term Note (EMTN) programme a long-term rating of 'BBB+', and short-term rating of 'F2', according to a recent report.
“The ratings of the programme apply only to senior issuance. There is no assurance that notes issued under the programme will be assigned a rating, or that the rating assigned to a specific issue under the programme will have the same rating as the programme,” the report added.
The bank's ordinary general meeting (OGM) approved in May the issuance of senior unsecured bonds worth a total of $1.5 billion, of which $500 million of unsecured bonds were issued in 2015.
