S&P Global Ratings assigned the US$5 billion Multicurrency Sukuk Issuance Program a preliminary 'A-' rating. Khazanah Global Sukuk Bhd. (KGS Bhd.) is a limited liability company registered in Malaysia, established by Khazanah Nasional Bhd.(KNB; foreign currency A-/Stable/A-2; local currency A/Stable/A-1) for the purpose of issuing trust certificates under the program. These certificates will be based on, among other documents, a master trust deed, a purchase undertaking, a wakala agreement, and a master murabaha agreement. KGS Bhd. will use at least 51% of the proceeds of the trust certificate issuance to purchase Sharia-compliant shares from the sponsor KNB. KGS Bhd. will use the rest of the proceeds to purchase commodities.