The Pakistan Credit Rating Agency Limited
10-Jan-24
Analyst
Kanwal Ejaz
kanwal.ejaz@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Rating | Jul-23
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jul-23
- Methodology | Rating Modifiers | Apr-23
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 Suspends the Entity Ratings of Honda Centre Pvt. Limited
| Rating Type | Entity | |
|
Current (10-Jan-24 ) |
Previous (27-Jul-23 ) |
|
| Action | Suspended | Maintain |
| Long Term | - | BBB |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
The ratings of the Company have been suspended due to the outstanding fee. Once the matter pertaining to the outstanding fee is resolved, PACRA will update the ratings after following the due process.
-
About
the Entity
Honda Centre was incorporated in 2007 as a private limited company. It was incorporated to function as an authorized 3S (Sales, Services, and Spare Parts) dealership for Honda Atlas Cars Pakistan Limited. The dealership is owned by the three brothers from the sponsoring family. Mr. Yasir Raza is the CEO and Mr. Taimur Raza and Mr. Hassan Raza are the executive directors. The sponsoring family has other successful running businesses in the oil and gas sector as well which is named 'EGAS Private Limited'.