The Pakistan Credit Rating Agency Limited
25-Oct-24
Analyst
Hina Harram
hina.harram@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 Suspends the Entity Ratings of Islamabad Farms
| Rating Type | Entity | |
|
Current (25-Oct-24 ) |
Previous (27-Oct-23 ) |
|
| Action | Suspended | Maintain |
| Long Term | - | BBB- |
| Short Term | - | A3 |
| Outlook | Stable | |
| Rating Watch | - | - |
The ratings of the Company have been suspended due to non-payment of the outstanding fee. Once the matter related to fee is resolved, PACRA would obtain latest information and accordingly update the ratings.
.
About
the Entity
Islamabad Farms was established in 1981 as an Association of Persons (AoP). Islamabad Farms operates 10 breeder farms to maintain parent flocks of different breeds and 3 hatcheries for day-old chicks. Its registered office is located in Satellite Town, Rawalpindi. While the farms and hatcheries are scattered across the country. Major ownership of Islamabad Farms resides with the family of the late Dr. Muhammad Aslam (~ 50%). His sons, Mr. M. Ali and Mr. M Hassan own an equal stake of ~15% each; followed by Dr. Aslam's daughters, Ms. Yumna Aslam (~ 7%) and Ms. Saleha Aslam (~ 7%), and his wife, Mrs. Alia Mehmood (~ 6%). The remaining holding vests with Dr. Azhar Mehmood (~ 25%), Mr. Muhammad Masood (~ 12.5%), and Mr. Mamoon-ur-Rasheed (~ 12.5%).