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The Pakistan Credit Rating Agency Limited
Press Release

Date
25-Sep-19

Analyst
Sehar Fatima
sehar.fatima@pacra.com
+92-42-35869504
www.pacra.com

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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 Maple Leaf Cement Factory Limited

Rating Type Entity
Current
(25-Sep-19 )
Previous
(29-Mar-19 )
Action Withdraw Maintain
Long Term - A+
Short Term - A1
Outlook - Stable
Rating Watch - -

Subsequent to the decision of the management of Maple Leaf Cement Factory Limited to discontinue the ratings, PACRA withdraws the Entity Ratings of Maple Leaf with immediate effect.
-

About the Entity
Maple Leaf Cement Factory Limited – a Kohinoor Maple Leaf Group (KMLG) Company – established in 1956 and is listed on Pakistan Stock exchange. The group, through Kohinoor Textile Mills, owns majority stake (~55%) in the company, while the rest is widely spread among general public and Financial Institutions. KMLG mainly maintains interests in cement and textile sectors. Overall control of the company vests in eight-member board. BoD is dominated by Saigol family, with five members, including the CEO. Mr. Sayeed Saigol, the CEO, is heading the company.

The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.