DJ Dar Al-Arkan International Sukuk II Dar Al-Arkan retains its Standard & Poors rating
Standard & Poor's kept Al-Arkans Long-Term Corporate Rating "BB-",retaining a Stable Outlook.
The reaffirmation was given, taking in consideration that DAAR's financial performance during the second quarter improved in comparison to the first quarter in terms of margins, collection of trade receivables and operating cash flow generation.
Moreover, DAAR has managed its cash consumption during the second quarter. Account receivable balances were collected and decreased from their peak during the first quarter of 2011, by slowing down land acquisitions.