The Pakistan Credit Rating Agency Limited
26-Feb-25
Analyst
Muhammad Awais
muhammad.awais@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 | Independent Power Producer Rating | Jul-24
Related Research
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 Atlas Power Limited
| Rating Type | Entity | |
|
Current (26-Feb-25 ) |
Previous (20-Sep-24 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | AA- |
| Short Term | - | A1+ |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the entity ratings of Atlas Power Limited.
PACRA withdraws the entity ratings of Atlas Power Limited, effective immediately.
About
the Entity
Atlas Power Limited (“Atlas” or “the Company”), a public limited unlisted entity, was founded in January 2007. The primary sponsor of the Company is Shirazi Investments (Pvt.) Limited, holding 92.09% of the shares, while the remaining 7.91% is owned by the National Bank of Pakistan (NBP). Shirazi Investments is the parent company of the Atlas Group.