| Saudi's Dar Al Arkan (4300.SA), the kingdom's second-biggest property company, now has sufficient liquidity to repay a 3.75 billion Saudi riyal ($1 billion) Islamic bond, or sukuk, due in July, ratings agency Standard & Poor's said on Monday.
S&P, in a statement, affirmed Dar Al Arkan's 'B+' long-term corporate credit rating and removed it from CreditWatch after downgrading the developer in February, arguing at the time that its high level of debt left it exposed to swings in property demand...............................................Full Article: Source
|