( no vested interest, divested early 2015)   Sabana has good discount to NAV and good yield, but look beyond numbers.   I have not seen management killing messengers. When rating company S&P reduced it credit rating, what did it do? It requested that credit rating to be withdrawn. It's loans are no longer rated and the reason given is it is unnecessary as rated or not, it's a 45% ceiling.   Really? Then why do companies go for rating? To have a lower cost of borrowing! Just look at the terms of loans for LMIR before and after rating. If I am Kevin, I would give a proper explanation, perhaps assuring investors That loans from the shari' ah compliant loans are not rating sensitive.   The only numbers u should look at for Sabana is now price. How much fall it would go before it become a fallen angel/ turnaround play? ......