Insurer Financial Strength – Vital information services Revises Sukuk Rating of Quetta Textile Mills Limited

Karachi: JCR-VIS Credit Rating Company Limited (JCR-VIS) has revised the Sukuk rating of Quetta Textile Mills Limited (QTML) from ‘BBB-’ (Triple B Minus) to ‘BB’ (Double B). Outlook on the rating remains ‘Negative’.

The rating action has been taken in view of the latest information made available, as per which, sponsor support may not be forthcoming, as earlier expected and the issuer may not be able to meet the payment due on March 26, 2012.

For more information, contact:
Mr. Javed Callea
Advisor
JCR-VIS Credit Rating Company Limited
Tel: +9221 35311861 (10 lines) (Ext: 501)
Fax: +9221 35311872-3
E mail: javed.callea@jcrvis.com.pk

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