...+ We have revised our recovery jurisdiction criteria to include Dubai International Financial Centre (DIFC). + Therefore, we are assigning a recovery rating of '3' to Dubai-based Damac Real Estate Development Ltd.'s $100 million and $650 million sukuk trust certificates due 2017 and 2019, respectively. + We are affirming the '##' issue ratings on these instruments. DUBAI (S&P Global Ratings) May 5, 2016--S&P Global Ratings said today that it had assigned its '3' recovery rating to sukuk trust certificates issued by Damac Real Estate Development Ltd. (##/Stable/--) through two special purpose vehicles: + $100 million of sukuk trust certificates maturing in 2017, issued by Alpha Star Holding II Ltd., and + $650 million of sukuk trust certificates maturing 2019, issued by Alpha Star Holding Ltd. The '3' recovery rating reflects our expectation of meaningful recovery, in the higher half of the 50%-70% range. We have affirmed our '##' issue ratings on these instruments. The senior unsecured...
