Analyst
Uswa Sikandar
uswa.sikandar@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Suspends Entity Ratings of Usmani International Associates (Pvt.) Limited
Rating Type | Entity | |
Current (24-Dec-21 ) |
Previous (24-Dec-20 ) |
|
Action | Suspended | Maintain |
Long Term | - | BB+ |
Short Term | - | A3 |
Outlook | Stable | |
Rating Watch | - | - |
Subsequent to the management's decision to suspend the entity ratings of Usmani International Associates (Pvt.) Limited, PACRA suspends its entity ratings with immediate effect.
As the management decides to reinitiate the ratings, PACRA would update the ratings, after following the due process.
About
the Entity
Usmani International Associates was established in 1988 by Engr. Ahmed Ghazal Usmani with an ambitious plan after having worked in his family’s construction business, INDUS ENGINEERS, which was established in the 1960s. Significant projects to its credit are the Green Line BRTS from KESC Power House Chowrangi, Surjani to Municipal Park, Saddar Karachi, Construction of North Access Road (Package-II) from Baradam to Ashriat – 7.330 Km of Lowari Tunnel Project, Construction of G+14 Central Park Apartments at Bahria Town, Construction of BRTS Green Line, BRT Common Corridor, an Underground facility at M.A. Jinnah Road, Karachi, to name a few. The company has a two-member board. The management control is held by the MD/ Chief Executive, Ms. Amna Usmani, after the demise of her father Mr. Ahmed Ghazal Usmani. The family governs the company on the basis of their rich experience in the construction industry.