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.



date:Posted: October 27, 2016
OMAN. In starting a business index, the Sultanate scored 1st amongst the Arab countries and 32nd globally, advancing by 127 points compared to the previous report.
date:Posted: October 25, 2016
UAE. Demographic and social change, shift in global economic power, rapid urbanisation, climate change and resource scarcity, and technological breakthroughs to dictate and shape the future of the region.
date:Posted: October 24, 2016
UAE. Blockchain can impact key areas of finance including retail payments infrastructure, remittances, FX trading, trade finance, capital markets and compliance activities; Booz Allen Hamilton identifies specific opportunities, recommends how the UAE can organize and co-ordinate efforts.
cheap wedding dresses on