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The Pakistan Credit Rating Agency Limited
Press Release

Date
30-Oct-18

Analyst
Raniya Tanawar
raniya.tanawar@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 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.


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.