Moody's rating agency confirmed the long-term credit rating of the investment company Dar Al-Arkan at Baa1 and reaffirmed the supported credit ratings.
However, Moody's also noted potential risks regarding the current situation in the real estate market in Saudi Arabia, the main area of activity for Dar Al-Arkan. According to them, instability in the economy could affect the company's creditworthiness.
"Given our assessment that problems could arise in the event of a real estate market crisis and economic downturn, we have decided to keep the rating at the current level, but we leave open the possibility of its reassessment in the future," the agency commented.
Dar Al-Arkan, in turn, expressed confidence in the sustainability of its business and its ability to overcome any challenges that may arise. "We will continue to work on diversifying our investments and minimizing risks for the stable development of the company," said the representative of Dar Al-Arkan.
