RAM Ratings Revises its Outlook and Reaffirms Ratings on RCE Marketing’s SPVs

RAM Ratings (RAM) revised the Outlook for Zamarad Assets’ (ZA) Tranche 1 Class B Sukuk Murabahah to Positive from Stable, projecting its expectation that the Sukuk's asset coverage will strengthen to a level equivalent to higher ratings in the near future, given its current performance. RAM also reaffirmed the respective AAA and AA2 ratings of the Class A and Class B Sukuk of ZA’s Tranche 1.

Meanwhile, RAM also reaffirmed the AAA ratings of the Class A and Class B Sukuk under Tranches 3 to 5 of Al Dzahab Assets’(ADA) Sukuk Murabahah. It also reaffirmed all of ADA’s long-term ratings with a stable outlook. ZA and ADA are special purpose vehicles (SPVs) established for the securitisation of personal...