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The Pakistan Credit Rating Agency Limited
Press Release

Date
13-Sep-18

Analyst
Faiqa Qamar
faiqa.qamar@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 Debt Instrument Ratings of Pak Elektron Limited | CP | Dec-17

Rating Type Debt Instrument
Current
(13-Sep-18)
Previous
(10-Sep-18)
Action Withdraw Maintain
Long Term - A+
Short Term - A1+
Outlook - Stable
Rating Watch - -

Pak Elektron Limited issued a short term, unsecured Commercial Paper of PKR 1,200mln in Dec-17. The instrument redeemed on 10-Sept-18. PACRA withdraws the debt instrument ratings 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.