The Pakistan Credit Rating Agency Limited
29-Apr-22
Analyst
Muhammad Zain Ayaz
zain.ayaz@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 Suspends Entity Rating of EcoPack Limited
| Rating Type | Entity | |
|
Current (29-Apr-22 ) |
Previous (30-Apr-21 ) |
|
| Action | Suspended | Maintain |
| Long Term | - | BBB+ |
| Short Term | - | A2 |
| Outlook | Negative | |
| Rating Watch | - | Yes |
Due to non-availability of requisite information, the rating of the Company has been suspended. PACRA dues have also not been paid.
About
the Entity
EcoPack was incorporated as a public limited Company in 1992. EcoPack was listed on the Pakistan Stock Exchange (Formerly Karachi Stock Exchange) in 1994. EcoPack provides a complete range of PET Preforms and PET Bottles required by the Carbonated Soft Drinks (CSD) and bottled water industry.
Majority of the Company's shares are held by Mr. Hussain Jamil (17.2%) shares in the Company and is the largest shareholder. Around 56% shares are held by acquaintances of the Sponsors while 27% shares are held by general public. EcoPack’s BoD comprises two independent Directors, four non-executive Directors and one Executive Director. Jamil family dominates the Board with five directors representing the family.