The Pakistan Credit Rating Agency Limited
26-Jan-19
Analyst
Muhammad Hassan
muhammad.hassan@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Ratings | Jun-18
- Methodology | Criteria | Rating Modifier | Jun-18
- Methodology | Correlation Between Long-Term And Short-Term Rating Scale | Jun-18
Related Research
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PACRA Withdraws Entity Ratings of H.A Fibres (Pvt.) Limited
| Rating Type | Entity | |
|
Current (26-Jan-19 ) |
Previous (26-Jul-18 ) |
|
| Action | Withdraw | Initial |
| Long Term | - | BBB+ |
| Short Term | - | A2 |
| Outlook | - | Stable |
| Rating Watch | - | - |
Subsequent to the decision of the management of H.A Fibres (Pvt.) Limited, PACRA withdraws the Entity Ratings with immediate effect.
About
the Entity
H.A Fibres (Private) Limited, incorporated in May 2006, is a private limited company owned by two individuals. H.A Fibres acquired assets of Greenhouse Spinning Mills Limited. The company is a part of H.A Group that has expanded to three businesses. The group has two entities operating in textile (Husnain Textile Mills and H.A Fibres) and one in real estate development. The group collectively operates ~142,000 spindles. The mills are located in Multan and Muzafargarh.