PACRA MAINTAINS ENTITY & TFC RATINGS OF

WORLDCALL COMMUNICATIONS LIMITED

 

Lahore: March 31, 2003

The Pakistan Credit Rating Agency (PACRA) has maintained the entity ratings of WorldCALL Communications Limited (WCL) at 'A+' (Single A plus) and 'A1' (A one) for the long-term and short-term, respectively. The entity ratings denote a low expectation of credit risk and are applicable to the senior unsecured creditors of the bank. The rating of the secured TFCs of PKR 350mln has been maintained at 'AA-' (Double A minus). This rating denotes a very low expectation of credit risk and very strong capacity for timely payment of financial commitments.

The ratings recognize WCL's strong financial profile with stable cash flows and sound coverages. The ratings also take into account the potential benefits arising from the company's diversification strategy and its strong competitive position within the payphone industry. These factors help in mitigating business risk associated with the telecom services sector.