PACRA MAINTAINS RATINGS OF
SECURITY PAPERS LIMITED

 

Lahore: September 03, 2002

The Pakistan Credit Rating Agency (Pvt) Limited (PACRA) has maintained long-term and short-term ratings at 'AA' (Double A) and 'A1+' (Single A one plus), respectively, for Security Papers Limited (SPL). These ratings denote a very low expectation of credit risk and a very strong capacity for timely payment of financial commitments. The ratings are applicable to the senior unsecured creditors of the company.

The ratings recognize SPL's strong financial profile emanating from stable and robust cash flows and very sound financial condition. The ratings also recognize that the company is not faced with any competition and it is not likely to face any threat on the demand side as the market for currency and security paper is likely to grow and consequently the company is exposed to a very low level of business risk.