Saudi Dar Al Arka ratings unchanged following US$450 million sukuk issue
Source: BI-ME , Author: BI-ME staff
Posted: Tue February 23, 2010 10:37 am

SAUDI ARABIA. Standard & Poor's Ratings Services said today that its long-term corporate credit rating on Saudi homebuilder Dar Al Arkan (DAAR; BB-/Stable/--) remained unchanged following the company's issue of its US$450 million sukuk notes.

We believe this issue removes short-term refinancing risks, which is positive, but we note that the rating already incorporated successful refinancing of DAAR's March 2010 debt maturity.

 Our 'BB-' issue rating on the sukuk notes also remains unchanged following our review of final documentation, S&P said.
 

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: October 31, 2014
INTERNATIONAL. In his latest interview with The Gold Report, the 321gold.com founder delivers a frank overview of U.S. international policy and lambasts commentators who look to their tea leaves in search of the next market moves.
date:Posted: October 31, 2014
INTERNATIONAL. If Russia's "pivot to Asia" results in Moscow and Beijing trading oil between them in a currency other than the dollar, that will represent a major change in how the global economy operates and a marked loss of power for the U.S. and its allies."
date:Posted: October 30, 2014
UAE. GCC corporate earnings strength intact; Regional bonds unaffected by global shocks; Central Banks support financial markets.
INTERNATIONAL. If Russia's "pivot to Asia" results in Moscow and Beijing trading oil between them in a currency other than the dollar, that will represent a major change in how the global economy operates and a marked loss of power for the U.S. and its allies."
dhgate