Tag Archives: PACRA

PACRA Maintains IFS Rating of Asia Insurance Company Limited

Lahore, December 12, 2018 (PPI-OT): Asia Insurance is emerging fast amongst small-sized general insurance companies. It is characterized by a) premium expansion, b) strong liquidity and c) good coverage to liabilities. Underwriting performance has improved significantly with a gradual uptick …

PACRA Maintains Entity Ratings of Pakistan Refinery Limited

Lahore, December 12, 2018 (PPI-OT): The ratings reflect the resilient business profile of PRL emanating from its sustainable operational history, strong demand for its products and its strategic importance in the domestic context. PRL’s core business remains exposed to the …

PACRA Maintains IFS Rating of Shaheen Insurance Company Limited

Lahore, December 12, 2018 (PPI-OT): The rating reflects Shaheen’s Insurance strong parentage – Shaheen Foundation – ensuring financial soundness of the company while augmenting its business operations and control environment through active vigilance. The significant improvement in the liquidity profile …

PACRA Maintains Entity Ratings of Ahmed Fine Weaving Limited

Lahore, December 07, 2018 (PPI-OT): The ratings reflect modest business profile of Ahmed Fine Weaving Limited – independently owned by a family stream belonging to erstwhile Fazal family of Multan. The sponsor’s long association with the textile business is considered …

PACRA Maintains IFS Rating of Excel Insurance Company Limited

Lahore, December 07, 2018 (PPI-OT): The rating reflects Excel’s emerging position in the general insurance industry. This is supported by a sizeable and duly compliant capital structure, as a result of equity injection. The equity of the company is deployed …

PACRA Maintains Rating of Byco Petroleum Pakistan Limited

Lahore, December 07, 2018 (PPI-OT): The rating reflects Unconditional and Irrevocable Credit Guarantee available to Sukuk holders from a multilateral guarantor – GuarantCo. Limited, rated AAA (May’18) by PACRA. The guarantee covers 100% of issue amount (principal). The issuer maintains …

PACRA Maintains Entity Ratings of Maple Leaf Cement Factory Limited

Lahore, December 07, 2018 (PPI-OT): The ratings reflect Maple Leaf’s strong business profile supplemented by (i) sizable market share, (ii) recognized brand, and (iii) strong profitability. The company operates at 3.4mln tpa capturing market share of 6.2%. The Company’s capacity …

PACRA Maintains Entity Ratings of National Refinery Limited

Lahore, December 07, 2018 (PPI-OT): The rating incorporates NRL’s association with only integrated oil group – Attock Group (AG). Key character of AG is a low leveraged capital structure with sound cash flow generation ability; ably replicated to NRL too. …

PACRA Maintains Entity Ratings of First Punjab Modaraba

Lahore, December 04, 2018 (PPI-OT): The ratings reflects the sustained performance and continuous support of the sponsor (The Bank of Punjab). The Modaraba has witnessed improvement in its standalone business profile exhibited in its performance trend; achieving profitability is a …

PACRA Maintains Entity Ratings of TPL Properties Limited

Lahore, December 04, 2018 (PPI-OT): The ratings incorporate strong fundamentals of the company. TPL Properties owns a high-end office building (Centrepoint) in Karachi. The company is following BOMR (build, own, maintain and rent-out) model. The business profile of TPL Properties …