The Pakistan Credit Rating Agency Limited
27-Jan-25
Analyst
Muhammad Harris Ghaffar
harris.ghaffar@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Rating Modifiers | Apr-24
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jul-24
- Methodology | Corporate Rating | Jul-24
Related Research
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PACRA Withdraws Entity Ratings of Allawasaya Spinning Mills (Pvt.) Limited
| Rating Type | Entity | |
|
Current (27-Jan-25 ) |
Previous (01-Mar-24 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | BBB- |
| Short Term | - | A3 |
| Outlook | Stable | |
| Rating Watch | - | Yes |
Subsequent to the management's decision to discontinue the entity ratings of Allawasaya Spinning Mills (Pvt.) Ltd, PACRA withdraws the entity ratings of Allawasaya Spinning Mills (Pvt.) Limited with immediate effect.
.
About
the Entity
ASML started operations in 2004 as a Spinning Mill with an installed capacity of 26,602 spindles. The Company’s head office and production facility are located in Multan. The Company is owned by Jamil Family, which also has a major share in Allawasaya Textile and Finishing Mills Limited. The Company has a two-member board, which is entirely composed of the sponsor's family members. Mian Alamgir Jamil Khan the Company’s CEO, carries extensive experience in the textile sector and is supported by an experienced management team.