Moody's rates Dar Al-Arkan Ba2

Moody's Investors Service said it assigned a provisional Ba2 corporate family rating and provisional Ba2 probability of default rating to Dar Al-Arkan Real Estate Development Co., Saudi Joint Stock Co., along with a provisional Ba2 to the Dar Al-Arkan International Sukuk Co. II and the proposed dollar-denominated certificates.

The outlook is stable.

The ratings were assigned on a provisional basis pending the successful issuance of the proposed sukuk, Moody's said.

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