The Pakistan Credit Rating Agency Limited
07-Sep-22
Analyst
Shayan Farooq
shayan.farooq@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Rating | Jun-22
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jun-22
- Methodology | Rating Modifiers | Jun-22
Related Research
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PACRA Withdraws Entity Ratings of Hi-Tech Feeds (Pvt.) Limited
| Rating Type | Entity | |
|
Current (07-Sep-22 ) |
Previous (10-Mar-22 ) |
|
| Action | Withdraw | Upgrade |
| Long Term | - | BBB |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the entity ratings of Hi-Tech Feeds (Pvt.) Limited.
PACRA withdraws the entity ratings with immediate effect.
About
the Entity
Hi-Tech Feeds (Pvt.) Limited is a prominent venture of Hi-Tech Group, which has diversified vertically across the poultry supply chain. The Company was incorporated in 1985 and is primarily engaged in manufacturing and selling poultry feed variants for birds of different types and age groups. The Company has two feed manufacturing facilities situated in Lahore and Sahiwal, with combined production capacity of 396,000 MT of feed per annum.
Hi-Tech Feeds is equally (25%) owned by Dr. Muhammad Arshad, Dr. Abdul Qayyum, Dr. Muhammad Asim Khan and Dr. Anwar Mahmood Randhawa. All four sponsors (also Directors on the board) hold a veterinary degree and are very well equipped with relevant industry knowledge. Dr. Muhammad Arshad laid the foundation of the Group and leads as the CEO of the Company. He is assisted by a team of experienced professionals.