The Pakistan Credit Rating Agency Limited
02-Apr-24
Analyst
Muhammad Harris Ghaffar
harris.ghaffar@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Rating | Jul-23
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jul-23
- Methodology | Rating Modifiers | Apr-23
Related Research
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PACRA Withdraws Entity Ratings of Lucky Tex Pakistan (Pvt). Limited
| Rating Type | Entity | |
|
Current (02-Apr-24 ) |
Previous (04-Apr-23 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | BBB |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the entity ratings, PACRA withdraws the entity ratings of Lucky Tex Pakistan (Pvt). Limited with immediate effect.
.
About
the Entity
Lucky Tex Pakistan (Pvt.) Limited commenced operations in 1993 and its foundation was laid by Mr. Ahmed Tabba. The company’s processing unit is geared to handling fabric widths up to 3.2 meters and weights from 80 - 300 gms/square meter. Lucky Tex Cut to Pack division is designed and equipped for a daily production of about 5,000 curtain pairs and 10,000 bed sets (Filled / Unfilled) and it is divided into seven sub-divisions. A power generation plant was also installed in the year 2000 to fulfill power requirements. Mr. Ahmed Tabba is the founder and Chairman of the company and has been involved in the textile business for 38 years. The Tabba family was involved in the trading business, and until 1983 were commercial importers and exporters on the pattern of Japanese trading companies.