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21/01/2012 16:06 AST
Capital Intelligence (CI), the international credit rating agency, announced that it has assigned an initial BBB- rating to the forthcoming KD26.5m unsecured bond issue by Alargan International Real Estate K.S.C.C. (Alargan). The Outlook on the rating is 'Stable'.
The rating is supported by Alargan's track record as a successful real estate developer even in difficult market environments, by the geographical diversification of its development portfolio and by its growing presence in the attractive KSA residential housing market.
Also supporting the rating are the Company's conservative financial ratios. Constraining the rating are the relatively small size of the company and the secured basis of much of its current base of borrowings.
Despite the secured debt-related constraint mentioned above (and the strong possibility of additional secured borrowings being taken in the future), the protections provided by the bond covenants and negative pledges are considered strong enough by CI that downward notching of the rating is not appropriate.
AME Info
16/03/2014
The Head Quarters of ALARGAN International Real Estate Company in the waterfront Argan Business Park in Shuwaikh Free Trade Zone, has been awarded LEED(r) Platinum certification for Commercial Interi
Arab Times
21/05/2011
Alargan Towell Investment Company announced its latest financing scheme for buyers who wish to own a house in its mixed-use development, Beyout AlFaye, located in Al Khoudh. The Company offers flexib
AME Info
15/12/2009
announced, in a press release this week, the capital increase of ALARGAN Projects (formerly known as ALARGAN Homes), in which ALARGAN International owns 48.34 percent. ALARGAN Projects recently incre
Al Watan
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25/11/2025
Taqa Energy Services, a subsidiary of Abu Dhabi National Energy Company (Taqa), has signed an agreement with Sdeira Group, a subsidiary of AD Ports Group, to implement one of the emirate's largest bu
Trade Arabia
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Saudi Real Estate Company (Al Akaria) has announced the signing of a framework agreement with Expo 2030 Riyadh Company to execute the early works for the Expo 2030 Riyadh project.
The contra
Trade Arabia
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Zain Group's Data Office, in collaboration with ZainTECH, has been awarded the Hybrid & Infrastructure Modernization Award at Cloudera's EVOLVE25 Data Impact Awards in Dubai. This recognition celebra
Kuwait Times
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AD Ports Group, a global enabler of integrated trade, transport, industry, and logistics solutions, and Abu Dhabi Future Energy Company (Masdar), a global clean energy leader, have signed a partnersh
Trade Arabia
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Vodafone Qatar has announced the commercial launch of its 5G Standalone (SA) network, which marks a significant leap forward in its digital transformation journey.
The company has partnered w
Gulf Times
Financial Information Co.
Saudi Arabia