Analyst
Raniya Tanawar
raniya.tanawar@pacra.com
+92-42-35869504
www.pacra.com
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Related Research
PACRA Withdraws Instrument Rating of Pak Arab Fertilizers Limited | PP Sukuk-Apr18
Rating Type | Debt Instrument | |
Current (30-Oct-18 ) |
Previous (20-Apr-18 ) |
|
Action | Withdraw | Preliminary |
Long Term | A | A |
Short Term | - | - |
Outlook | Stable | Stable |
Rating Watch | - | - |
Pakarab Fertilizer Limited proposed an issue of a secured, privately placed diminishing musharaka Sukuk with an amount PKR 1000mln inclusive of green shoe option of PKR 250mln for a tenor of 5 years. The issuance of proposed Sukuk has been cancelled by the entity, thereby PACRA withdraws Preliminary Sukuk Rating with immediate effect.
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