The Pakistan Credit Rating Agency Limited
13-Jan-23
Analyst
Faiqa Qamar
faiqa.qamar@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Rating | Jun-22
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jun-22
- Methodology | Rating Modifiers | Jun-22
Related Research
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PACRA Suspends Entity Ratings of Sadiq Feeds (Pvt.) Limited
| Rating Type | Entity | |
|
Current (13-Jan-23 ) |
Previous (14-Sep-22 ) |
|
| Action | Suspended | Maintain |
| Long Term | - | BBB+ |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
Due to non-availability of requisite information, the ratings of Sadiq Feeds (Pvt.) Ltd. ('the Company') has been suspended. Moreover, PACRA dues have also not been cleared by the Company.
As the required information is furnished to us and other matters are resolved, PACRA would update the ratings after following the due process..
About
the Entity
Sadiq Feeds (Pvt. Ltd. was incorporated in 2005 and is primarily engaged in three different types of feeds - poultry feed, strain-specific layered feed, and cattle feed for birds and livestock of different types and age groups. The Company's feed manufacturing facility is situated in Sahiwal, with a production capacity of 130 MT/hour.
Previously, the Company's major shareholding was vested with Dr. Sadiq (70%), followed by his two sons, Mr. Asif Zubair (15%) and Mr. Salman Sadiq (15%). Presently, the ownership rests with Mrs. Saadia Sadiq (22%) and her sons: M. Arsal (25%), M. Sanan (27%), and M. Saad (27%)
About
the Instrument
.