The Pakistan Credit Rating Agency Limited
13-Dec-24
Analyst
Kanwal Ejaz
kanwal.ejaz@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 Toyota Jinnah Motors (Pvt.) Limited
| Rating Type | Entity | |
|
Current (13-Dec-24 ) |
Previous (10-Jan-24 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | BBB |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
Following the management's decision to discontinue the entity ratings of Toyota Jinnah Motors (Pvt.) Limited, PACRA withdraws the entity ratings of Toyota Jinnah Motors (Pvt.) Limited with immediate effect.
-
About
the Entity
Toyota Jinnah Motors, incorporated on Jan 17, 2014 as a private limited Company and inaugurated its operations on 2nd June 2016. The Company was incorporated to set up 3S authorized dealership (Sales, Service and Parts) of Indus Motor Company Ltd, the partners of Toyota Motor Corporation Japan. The Company is majorly owned by Mr. Muhammad Mushtaq (Chairman). Mr. Asad Munir has recently stepped down from his role as CEO of the Company. Mr. Ch. Muhammad Idrees has been appointed as the new CEO of Toyota Jinnah Motors (Pvt.) Limited.