Dar Al-Arkan: S&P affirms its B+ credit rating with a positive outlook

25/03/2014 Tadawul

Dar Al-Arkan Real Estate Development Company (DAAR) said that the International credit rating agency, Standard & Poor's (S&P), affirmed DAAR's Corporate Credit rating at B+, with Positive Outlook.

S&P explained in their media release dated 25 March 2014 that DAAR's Corporate Credit rating was affirmed as a result of steady operational performance and a strengthened liquidity position; DAAR said in its filing to Tadawul today.

“S&P's 'Positive Outlook' stance reflects the potential for strengthened credit metrics over the coming 12 months. This indicates DAAR's strong and effective liquidity management and its success in improving and balancing its debt maturity profile”; the company added.

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