03-10-2024
Mekdam Holding Group discloses that Standard & Poor's withdrew the credit rating which was gcBB, due to
This decision was made at the request of Mekdam Holding Group, as the purpose of publishing the credit rating has become unnecessary. The primary objective of having a credit rating was to prepare the company for long-term borrowing to finance its operational activities. Since Mekdam Holding Group has successfully strengthened its financial position and financed most of its operations through operating profits and capital increases, there is no longer a need to publish a general credit rating for the group.