PACRA MAINTAINS TFC RATING OF
MAPLE LEAF CEMENT FACTORY LIMITED

 

Lahore: October 29, 2002

The Pakistan Credit Rating Agency (PACRA) has maintained the rating of the secured TFCs of Rs.250 mln of Maple Leaf Cement Factory Limited (MLCFL) at 'A-' (Single A minus). The rating denotes a low expectation of credit risk, and a strong capacity for timely payment of financial commitments.

The rating reflects the expected improving trend in financial coverages and cash flows attributable mainly to increasing profitability, supplemented by the IFC loan rescheduling. The rating also factors in the main sponsor's undertaking to provide requisite support to MLCFL to meet its TFC obligations, if it proves necessary.