The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (04-May-2007)
   

PACRA Assigns Entity Ratings to TRG Pakistan Limited
 

 
Analyst
Maimoon Rasheed
(+92-42-586 9504)
maimoon@pacra.com
www.pacra.com

 

 

 









 

 

 

 

 

Disclaimer
This press release is transmitted to you for this sole purpose of dissemination through your newspaper/magazine/agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to PACRA. However, PACRA has the sole right of distribution of its press releases for consideration or otherwise through any media.

  

The Pakistan Credit Rating Agency (PACRA) has assigned a long-term entity rating of “BBB+” (Triple B plus) and short-term rating of “A2” (A two) to TRG Pakistan Limited (TRG). The ratings denote low expectation of credit risk and adequate capacity for timely payment of financial commitments.

The ratings reflect TRG’s leading position in the business process outsourcing (BPO) segment, emanating from superior technology platform, quality of human resource and systems and processes, and its fast expanding size through acquisitions. At the same time, the ratings take into account the company’s relatively prolonged loss making gestation phase. The management is hopeful of engendering a turnaround on account of continuing cost rationalization, improving operational efficiency and progressive migration of labor to improve margins. However, the extent of achieving financial turnaround and the related timeline remains to be seen.

About the Company: TRG, incorporated in Dec 2002 and listed on Karachi stock exchange, started operations in April 2003. It is the country’s largest venture capital company of its kind. As at February 5, 2007, TRG major shareholders include JS Group, some members of the board, International Finance Corporation and the Packages group. Otherwise the shareholding of TRG is not closely held by any one group.

The principal activity of the company is to directly or indirectly acquire, manage and maintain the business of telephone answering services, call centers and provide other business processing services. The management team, headed by Mr. Zia Chishti in the US and Mr. Ali Jameel in Pakistan, is a blend of some highly qualified personnel with entrepreneurial flair and considerable international experience.

 

 

    
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