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Sheikh Khalid Bin Thani Al-Thani’s Ezdan Holdings has come under pressure to resolve its debt issues, following a report from Standard & Poor’s on 24 February which warned that the company was at risk of defaulting on a $500m sukuk (Islamic bond) which matures on 18 May. S&P downgraded the company from B- to CCC pointing to its “narrowing liquidity and high debt balances, which could lead to a distressed exchange, debt restructuring, or default over the next 3‐12 months”.
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