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: May 29, 2015
INTERNATIONAL. SITA survey investigated the connection between passenger's use of technology and their emotions to discover how they feel at every point of the journey; Survey shows that technology is helping put enjoyment back into flying.
date:Posted: May 28, 2015
UAE. The recent close below 1.55 was a critical blow for the Pound/Dollar bulls, and the bears have continued to exploit each opportunity to increase selling pressure with the pair still looking technically vulnerable to further declines.
date:Posted: May 28, 2015
UAE. Low production costs for Middle East companies gives regional players significant competitive advantage in the low price segment of an oil "super cycle", according to the latest paper from global strategy and management consulting firm A.T. Kearney.
INTERNATIONAL. SITA survey investigated the connection between passenger's use of technology and their emotions to discover how they feel at every point of the journey; Survey shows that technology is helping put enjoyment back into flying.
dhgate