PACRA MAINTAINS ENTITY RATINGS OF

AL-ABBAS SUGAR MILLS LIMITED

 

Lahore: June 05, 2002

The Pakistan Credit Rating Agency (PACRA) has maintained the entity ratings of Al-Abbas Sugar Mills Limited (AASML) at 'A-' (Single A Minus) for the long-term and 'A2' (A-two) for the short-term. The ratings denote a low expectation of credit risk and strong capacity for timely payment of financial commitments.

AASML's ratings reflect the company's vigilant management, diversified revenue base, adequate capitalization but also the volatile nature of business. While prospects in the sugar industry continue to remain lacklustre, the company's distillery project has supported its ability to remain profitable and meet its financial obligations.