PACRA MAINTAINS RATINGS OF
SECURITY PAPERS LIMITED (SPL)

 

Lahore: October 01, 2003

The Pakistan Credit Rating Agency (Pvt) Limited (PACRA) has maintained the long-term rating of 'AA' (Double A) and the short-term rating of 'A1+' (Single A one plus) for Security Papers Limited. 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 maintained performance and sound coverages. The company's position of being the sole supplier of currency paper with assured demand and low gearing is reflective of low business and financial risks.