Time: September 18, 2018
Simah Rating Agency (Tassnief) has assigned an issuer rating of “BB” to Maalem Financing Company. The outlook on the rating is stable. Tassnief has also assigned a preliminary long-term rating of “BB” to the proposed sukuk of Maalem Financing Company.
Tassnief is a Saudi rating agency licensed by the Capital Market Authority (No.15001-08) to conduct rating activities, which include several products such as rating services for corporates, financial institutes, sovereign bonds, sukuk and investment funds, in addition to other products as per the market’s needs.
Tassnief is a business enabler and plays an important role in the financial sector. It enhances transparency for business owners, investors, regulators and the government, as well as clarity and competitiveness for both the local and international economies.
It helps in creating an investment environment that is in accordance with the transformation the Kingdom is witnessing in line with Saudi Vision 2030.