S&P: Dar Al Arkan view now stable

Standard & Poor’s said it revised its outlook on Dar Al Arkan Real Estate Development Co. to stable from positive and affirmed its B+ long-term corporate credit rating on the company.

At the same time, S&P affirmed the B+ senior unsecured debt rating on sukuk issued by the company.

The outlook revision reflects that Dar Al Arkan’s financial leverage reduction is taking longer to accomplish than had previously been anticipated, S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.