Analyst
Ayesha Qasim
ayesha.qasim@pacra.com
+92-42-35869504
www.pacra.com
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Related Research
Sukuk Issued by Amreli Steels Fully Redeemed: Rating Withdrawn
Issuer | Amreli Steels Limited |
Instrument | Sukuk-II |
Amount | PKR 880 mln |
Issuance Date | 07-Dec-09 |
Tenor | 84 Years |
Redemption Date | 01-Jan-70 |
Outstanding Amount | - |
Rating Type | Debt Instrument | |
Current (21-Dec-16 ) |
Previous (08-Feb-16 ) |
|
Action | Redeem | Upgrade |
Long Term | A | A |
Short Term | - | - |
Outlook | Stable | Stable |
Rating Watch | - | - |
Amreli Steels issued a secured, privately placed Sukuk of PKR 880mln in Dec09. The instrument was issued for a period of 7 years, maturing in Dec16. The Sukuk has been fully redeemed in a timely manner. Subsequent to redemption, PACRA has withdrawn the rating <b>[A]</b> of the said instrument.
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