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Saad woes affect regional view says Moody’s

Posted on 09 June 2009

From Tradearabia.com: Saudi Saad Group’s credit problems will affect the way ratings agency Moody’s assesses privately held firms across the Gulf region due to weaknesses in the operating environment, a senior analyst said.

Privately held Saad Group, part of a $30.6 billion network of firms, sent shockwaves through the Gulf last week, saying it would restructure its debt after it ran into unspecified difficulties and the Saudi central bank froze the accounts of its billionaire chairman Maan al-Sanea…….Full Article: Source

 
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