The Pakistan Credit Rating Agency Limited
28-Jun-24
Analyst
Hina Harram
hina.harram@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jul-23
- Methodology | Rating Modifiers | Apr-24
- Methodology | Corporate Rating | Jul-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 Awami Agro Commodities
| Rating Type | Entity | |
|
Current (28-Jun-24 ) |
Previous (13-Oct-23 ) |
|
| Action | Suspended | Maintain |
| Long Term | - | BBB |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
The ratings of the Company have been suspended. PACRA dues are pending. Once these matters are resolved, PACRA will update the ratings after following the due process.
.
About
the Entity
Awami Agro Commodities was established in 2012 as a partnership concern by two brothers; Mr. Bhagwan Das and Mr. Sanjesh Kumar. Its primarily engaged in rice exports and holds membership of Rice Export Association (REAP) and Karachi Chamber of Commerce & Industry (KCCI). The unit’s processing capacity is 260 MT per day (93,600 MT per annum). Mr. Bhagwan Das along with his three brothers, Mr. Sanjesh Kumar, Mr. Naresh Kumar, and Mr. Govinda Kumar, are associated with Awami Agro. The sponsoring family has experience of three decades in the rice industry.