Financial and Banking News
LOANS AND ISSUES
Collapse of Arabian Auto Deal Raises Fresh Doubts in Saudi DebtCrisis
A SR700mn debt rescheduling agreement between the Arabian Auto Agency (AAA)of Saudi Arabia and its creditors has but all collapsed as a result of thedebtor's mounting arrears. AAA signed its deal eight months ago (MEES, 9 March),having made a SRllmn repayment in February, and was committed to repaying 60%of its outstanding debt over seven to nine years at...