The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (25-July-2006)
   

PACRA Removes the Ratings of
Azgard Nine Limited from RatingWatch
 

 
Analyst
Shahzad Saleem
(+92-42-586 9504)
shahzad@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.

  

Consequent to the completion of acquisition of Pak American Fertilizer Limited by Azgard Nine Limited (ANL), PACRA removes its ratings from RatingWatch. Meanwhile, PACRA reaffirms long-term and short-term entity ratings of ANL at “A” (Single A) and “A1” (A one), respectively. The ratings of its listed TFCs of PKR 2,144mln and privately placed TFCs of PKR 2,500 are affirmed at “A+” (Single A plus). These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments.
 
The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity.

PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings.

PACRA's opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.

 

    
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