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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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22/09/2025
Gulf Bank announced its sponsorship and participation in the orientation event for new students organized by the American University of Kuwait, as part of its ongoing commitment to engage with new st
Kuwait Times
22/09/2025
Ooredoo Group has sold a minority 6% stake in Meeza- QSTP, Doha's leading managed information technology services and solutions provider, to certain funds managed by Fiera Capital (UK) at the current
Gulf Times
22/09/2025
Al Mahhar Holding Company, a public shareholding company providing specialised services and products to the energy and infrastructure sectors, has been included in the FTSE Russell Global Equity Inde
Gulf Times
22/09/2025
AD Ports Group has laid the foundation stone for the Noatum Ports Luanda Terminal at the Port of Luanda, marking the commencement of one of the most significant port modernisation and expansion proje
Trade Arabia
22/09/2025
Qatar Industrial Manufacturing Company (QIMC) has signed an agreement to purchase a 7% stake held by Qatar Oman Investment Company in Qatar Aluminum Extrusion Company (QALEX), bringing its total stak
Gulf Times
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