Moody’s gives Hong Kong sukuk Aa1

Moody's Investors Service said it assigned a provisional Aa1 rating to the trust certificates issued by Hong Kong Sukuk 2015 Ltd., a special purpose vehicle established in Hong Kong by the Government of the Hong Kong Special Administrative Region.

The rating is at the same level as the long-term local-currency and foreign-currency issuer ratings of Hong Kong, as the sukuk certificate holders will (a) effectively be exposed to Hong Kong's senior unsecured credit risk; (b) not be exposed to the risk of performance of the underlying assets relating to the Certificates; and (c) have rights to the proceeds of payments from the Hong Kong Special Administrative Region Government ranking pari passu with other senior unsecured obligations.

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