Fitch Ratings: Sukuk issuance rose in 2019 as diversification continues
Fitch Ratings-London/Dubai-11 February 2020: Global sukuk issuance rose 6% in 2019 as the range of issuers and investors broadened, although supply is still concentrated geographically, Fitch Ratings says. Long-standing structural impediments to growth remain although, as more corporates tap the sukuk market, potentially including those with weaker credit profiles, legal precedents could eventually be set clarifying creditor treatment in a default.
Sukuk issuance with a maturity of more than 18 months from the Gulf Cooperation Council (GCC) region, Malaysia, Indonesia, Turkey and Pakistan totalled USD42.2 billion in 2019, up from USD39.8 billion in 2018. The 2019 figure was nearly 40% higher than ten years earlier, although below the record high reached in 2017.
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