The Pakistan Credit Rating Agency Limited
13-Jul-21
Analyst
Muhammad Mubashir Nazir
mubashir.nazir@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Rating | Jun-21
- Criteria | Correlation Between Long-term & Short-term Rating Scales | Jun-21
- Criteria | Rating Modifiers | Jun-21
Related Research
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PACRA withdraws Entity Ratings of Motorway Operations and Rehabilitation Engineering (Private) Limited
| Rating Type | Entity | |
|
Current (13-Jul-21 ) |
Previous (07-May-21 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | AA |
| Short Term | - | A1+ |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the entity ratings of Motorway Operations and Rehabilitation Engineering (Private) Limited, PACRA withdraws the ratings of Motorway Operations and Rehabilitation Engineering (Private) Limited with immediate effect.
.
About
the Entity
Motorway Operations & Rehabilitation Engineering (Private) Limited (MORE) was incorporated on April 11, 2014. MORE’s Board of Directors consists of three FWO nominated serving army officers and one retired engineer army officer. Three board members are senior executives of FWO. The Director General FWO – Maj Gen Kamal Azfar – also designated as Chairman MORE, supervises all FWO projects. The CEO, Brig. Atif Majeed, reports to the Chairman MORE. Mr. Farhan joined the Company as Chief Financial Officer of MORE, after the resignation of Mr. Shaikh M. Khurshid Alam who was associated with the Company as Chief Financial Officer since Jan-17.