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RAM rates Bahrain’s Mumtalakat ‘strong’

Malaysia's RAM Ratings has rated Bahrain's sovereign wealth fund Mumtalakat Holding Co (Mumtalakat) 'AA2,' Daily Tribune has reported. The rating was sought as part of the objective to pursue the highest levels of transparency, and provide platforms to keep institutional investors informed about the company and Bahrain, said Mumtalakat's chief executive, Mahmood Al Kooheji. "Furthermore, Mumtalakat has established a 20-year, BD360m medium-term Sukuk programme, as part of its strategy to proactively manage long-term refinancing and debt maturity profile."