The Pakistan Credit Rating Agency Limited
24-May-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
This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA
PACRA Withdraws Entity Ratings of Reliance International Commodities Export (Pvt.) Ltd.
| Rating Type | Entity | |
|
Current (24-May-23 ) |
Previous (13-Oct-22 ) |
|
| Action | Withdraw | Upgrade |
| Long Term | - | BBB- |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
Due to the management's willingness to discontinue the ratings of Reliance International Commodities Export (Pvt.) Ltd. ('the Company'), the company's ratings have been withdrawn.
.
About
the Entity
Reliance International Commodities Exports (Pvt.) Limited is a Private Limited Company. Primary business includes export of IRRI rice to African countries and China. The Company is equally owned by two brothers Mr. Arif Hussain and Mr. Irshad Hussain. The Managing Director of the Company, Mr. Arif Hussain, is a seasoned professional with an experience of more than two decades.