Maldives pays off $25 million sukuk coupon a day early, despite credit rating downgrades.
The Maldives has proactively settled a $25 million coupon payment on its $500 million sukuk, an Islamic bond, a day early, according to the Ministry of Finance. Issued in 2021, this bond matures in 2026, with payments scheduled semi-annually. Despite this timely payment reflecting the government's commitment to its debt, credit ratings from Moody's and Fitch have been downgraded due to escalating default risks and significant upcoming external debt obligations.
October 07, 2024
3 Articles