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The Pakistan Credit Rating Agency Limited
Press Release

Date
26-May-21

Analyst
Sehar Fatima
sehar.fatima@pacra.com
+92-42-35869504
www.pacra.com

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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 withdraws Entity Ratings of Ali Embroidery Mills (Pvt.) Limited

Rating Type Entity
Current
(26-May-21 )
Previous
(28-May-20 )
Action Withdraw Maintain
Long Term - BBB
Short Term - A2
Outlook Stable
Rating Watch - Yes

Subsequent to the management's decision to discontinue the ratings, PACRA withdraws the Entity Ratings of Ali Embroidery Mills (Pvt.) Limited with immediate effect.
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About the Entity
Ali Embroidery Mills (Private) Limited, incorporated in 1972, is part of the Sefam Group, most famous for its fashion brand Bareezé. The Company was founded by Mr. J.A Zaman (late) and later became the launching pad for Sefam (Pvt.) Limited & Sarena Textile Industries. The Company’s production facilities are located at Sheikhupura Road, comprising 34 Schiffli machines and 72 Multi-Heads embroidery machines. The Group has expanded its operations over the years and owns many well-known retail brands, such as, Bareezé, Leisure Club, Minnie Minors, Chinyere, Home Expressions and Kayseria, among others.

The ownership of the Company lies with the five children of Mr. J.A Zaman (late). Operations of the company are looked after by the Chief Executive Officer, Mr. Tariq Zaman, who has diverse experience in textile, poultry, dairy and transportation sectors. He is assisted by a professional management team.

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.