PACRA MAINTAINS THE RATINGS OF

TRI-PACK FILMS LIMITED

 

Lahore: July 15, 2003

The Pakistan Credit Rating Agency (PACRA) has maintained both long-term and short-term ratings of Tri-Pack Films Limited (TPFL) at "A+" (single A plus) and "A1" (single A one), respectively. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments. The ratings are applicable to senior unsecured creditors of the company.

TPFL's ratings reflect the company's strong financial profile emanating from a track record of stable cash flow generation, sound coverages and low gearing. TPFL is exposed to low levels of business risk attributable to its sustained market leadership and the management's demonstrated capacity to successfully meet any competitive challenges.