Tassnief assigns ‘A-‘ national scale entity ratings to Cenomi Centers
The assigned ratings reflect low credit risk, reflecting Cenomi Centers' leading market position, satisfactory business diversity, and strong operating performance, according to a bourse disclosure.
They also highlighted a favorable operating environment, which is expected to back operating performance over the rating horizon.
Cenomi Centers has a leading market share of nearly 18% in gross leasable area (GLA), three times that of its nearest competitor, highlighting its advantage and operational depth in a fragmented market.
In the first quarter (Q1) of 2025, Cenomi Centers generated 19.98% higher net profit at SAR 222.70 million, compared to SAR 185.60 million in Q1-24.
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