The Pakistan Credit Rating Agency Limited
25-Oct-24
Analyst
Faiqa Qamar
faiqa.qamar@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 AL Textile (Pvt.) Limited
| Rating Type | Entity | |
|
Current (25-Oct-24 ) |
Previous (02-May-24 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | BBB |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | Yes |
Subsequent to the management's decision to discontinue the ratings, PACRA withdraws the Entity Ratings of AL Textile (Pvt.) Limited with immediate effect.
.
About
the Entity
AL Textile (Pvt.) Limited ('AL Textile' or 'the Company'), was incorporated in 2002, as a private limited company. The Company commercially operational in 2003 with the core operations to manufacture yarn products ranging between 6/1 to 30/1 counts. The Company has an installed capacity of ~25,200 spindles.
The Company's stake is divided among three siblings Mr. Omer Latif Ch. (~61%), Mr. Atif Latif Ch. (~21%) and Mrs. Neelofer Latif Ch.(~19%). Mr. Omer chairs the Company's BoD and also leads as the CEO. He is assisted by a team of seasoned professionals.