logo
The Pakistan Credit Rating Agency Limited
Press Release

Date
30-Aug-19

Analyst
Raniya Tanawar
raniya.tanawar@pacra.com
+92-42-35869504
www.pacra.com

Applicable Criteria

Related Research

Disclaimer
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 Meskay & Femtee (Pvt.) Limited

Rating Type Entity
Current
(30-Aug-19)
Previous
(01-Mar-19)
Action Withdraw Initial
Long Term - BBB
Short Term - A2
Outlook - Stable
Rating Watch - -

PACRA withdraws the entity ratings of Meskay & Femtee (Pvt.) Limited with immediate effect, on account of the company's decision not to continue the ratings.
.

About the Entity
Meskay & Femtee (Pvt.) Limited is a Private Limited company established on 1993. The company is engaged in processing and trading business of rice. Meskay & Femtee is one of the largest exporters of rice in the domestic landscape. In 1998, Meskay and Femtee (Pvt.) Limited became a full-fledge milling business. Meskay & Femtee Pvt Limited is owned by four individuals. Mr. Teka Mal( (46.80%), two sons, Mr. Mukesh and Mr. Manoj holds ~22.4% each while Mrs Sundari, Wife of Mr. Teka Mal, holds the remaining. Meskay’s board comprises four members who are also shareholders of 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.