Fitch Affirms ‘Stable’ Outlook for Tamweel

DUBAI - Fitch Ratings on Tuesday affirmed its ‘stable’ outlook on three Tamweel Residential ABS CI Ltd. transactions following their steady performance even as economic conditions in Dubai are worsening.

Read more...

Published: Wed 28 Jan 2009, 11:04 PM

Last updated: Sun 5 Apr 2015, 9:38 PM

Fitch’s rating action involved three Tamweel transactions: Class A was affirmed at ‘AA’; Class B was rated ‘BBB+’ and Class C affirmed at ‘BB-‘.

Fitch said the Class A transaction is a securitisation of residential leases extended by Tamweel to lessees in Dubai. These lease contracts are reset periodically.

rocel@khaleejtimes.com

Published: Wed 28 Jan 2009, 11:04 PM

Last updated: Sun 5 Apr 2015, 9:38 PM

Recommended for you