The Pakistan Credit Rating Agency Limited
Press Release


Muhammad Hassan

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PACRA Withdraws Entity Ratings of Sapphire Electric Company Limited

Rating Type Entity
Action Withdraw Maintain
Long Term - A+
Short Term - A1
Outlook - Stable
Rating Watch - -

Subsequent to the decision of the management of Sapphire Electric Company Limited, PACRA withdraws its Entity Ratings [Long Term: 'A+' (Single A Plus) and Short Term: 'A1+' (A One Plus)] with immediate effect.

About the Entity

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.