The Pakistan Credit Rating Agency Limited
Press Release


Muhammad Zain Ayaz

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PACRA Suspends Entity Rating of EcoPack Limited

Rating Type Entity
(29-Apr-22 )
(30-Apr-21 )
Action Suspended Maintain
Long Term - BBB+
Short Term - A2
Outlook Negative
Rating Watch - Yes

Due to non-availability of requisite information, the rating of the Company has been suspended. PACRA dues have also not been paid.

About the Entity
EcoPack was incorporated as a public limited Company in 1992. EcoPack was listed on the Pakistan Stock Exchange (Formerly Karachi Stock Exchange) in 1994. EcoPack provides a complete range of PET Preforms and PET Bottles required by the Carbonated Soft Drinks (CSD) and bottled water industry.
Majority of the Company's shares are held by Mr. Hussain Jamil (17.2%) shares in the Company and is the largest shareholder. Around 56% shares are held by acquaintances of the Sponsors while 27% shares are held by general public. EcoPack’s BoD comprises two independent Directors, four non-executive Directors and one Executive Director. Jamil family dominates the Board with five directors representing the family.

The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.