The Pakistan Credit Rating Agency Limited
01-Apr-26
Analyst
Ahsan Zahid
ahsan.zahid@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Apr-25
- Methodology | Rating Modifiers | Apr-25
- Methodology | Independent Power Producer Rating | Jul-25
Related Research
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PACRA Withdraws Entity Ratings of Quaid-e-Azam Solar Power (Pvt.) Limited
| Rating Type | Entity | |
|
Current (01-Apr-26 ) |
Previous (04-Apr-25 ) |
|
| 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 Quaid-e-Azam Solar Power (Pvt.) Limited, PACRA has withdrawn the ratings with immediate effect.
About
the Entity
Quaid-e-Azam Solar Power Limited (QASPL) was incorporated in 2013 and operates a 100MW solar plant located in Cholistan, Punjab. The total cost of the project was PKR 15,130 million, with 75% of the funding, amounting to PKR 11,137 million, provided through debt financing from the Bank of Punjab. The project was successfully commissioned in July 2015.