From Bi-me.com: 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……………………………………Full Article: Source