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The Pakistan Credit Rating Agency Limited
Press Release

Date
11-Oct-24

Analyst
Farhan Haidar
Farhan.Haider@pacra.com
+92-42-35869504
www.pacra.com

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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 the Entity Ratings of Hassan Ali Rice Export Company

Rating Type Entity
Current
(11-Oct-24 )
Previous
(13-Oct-23 )
Action Withdraw Maintain
Long Term - BBB+
Short Term - A2
Outlook Stable
Rating Watch - -

Subsequent to the management's decision to discontinue the entity ratings of Hassan Ali Rice Export Company, PACRA withdraws the entity ratings of Hassan Ali Rice Export Company with immediate effect.
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About the Entity
Hassan Ali Rice Export Company is a sole proprietorship established on 15-Jun-94. The Business is engaged in the processing and trading of rice. Hassan Ali is one of the largest exporters of rice in the domestic landscape. Hassan Ali is one of the founding members of the Rice Export Association (REAP). Mr. Abdullah Akbar Ali Hashwani heads the business’s operations along with his team.

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.