Arabian Centres Company (Cenomi Centers) announces Fitch Ratings has revised the Company's Outlook to Stable, while affirming its Long-Term Issuer Default Rating at 'BB'.

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Announcement Detail	Arabian Centers Company (“Cenomi Centers” or “the Company”) is pleased to announce to its honorable shareholders Fitch Ratings has revised the Company's Outlook to Stable from Negative, while affirming its Long-Term Issuer Default Rating at 'BB'. This assessment reflects the strength of our financial position, disciplined execution, and resilient operating performance, following the successful refinancing of our October 2026 sukuk. As we continue to develop world-class retail destinations and strengthen our portfolio, we remain committed to delivering sustainable value for our shareholders and supporting the ambitions of Saudi Vision 2030. Read the full report: https://www.fitchratings.com/research/corporate-finance/fitch-revises-arabian-centres-outlook-to-stable-removes-uco-25-06-2026 The assigned ratings incorporate Cenomi Centers’ leading market position, satisfactory business diversity, strong operating performance supported by high occupancies and footfall growth as well as sound tenant mix comprising renowned local, regional and international brands. Ratings also reflect a favorable operating environment which is expected to support operating performance over the rating horizon. Ratings are constrained by aggressive financial and development policies, although improvement in the same is expected when Jawharat Riyadh and Jawharat Jeddah are at full stabilization.

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Explanation

Announcement Detail

Arabian Centers Company (“Cenomi Centers” or “the Company”) is pleased to announce to its honorable shareholders Fitch Ratings has revised the Company's Outlook to Stable from Negative, while affirming its Long-Term Issuer Default Rating at 'BB'.

This assessment reflects the strength of our financial position, disciplined execution, and resilient operating performance, following the successful refinancing of our October 2026 sukuk.

As we continue to develop world-class retail destinations and strengthen our portfolio, we remain committed to delivering sustainable value for our shareholders and supporting the ambitions of Saudi Vision 2030.

Read the full report:

https://www.fitchratings.com/research/corporate-finance/fitch-revises-arabian-centres-outlook-to-stable-removes-uco-25-06-2026

The assigned ratings incorporate Cenomi Centers’ leading market position, satisfactory business diversity, strong operating performance supported by high occupancies and footfall growth as well as sound tenant mix comprising renowned local, regional and international brands. Ratings also reflect a favorable operating environment which is expected to support operating performance over the rating horizon. Ratings are constrained by aggressive financial and development policies, although improvement in the same is expected when Jawharat Riyadh and Jawharat Jeddah are at full stabilization.