The Pakistan Credit Rating Agency Limited
17-Feb-26
Analyst
Kanwal Ejaz
kanwal.ejaz@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Apr-25
- Methodology | Rating Modifiers | Apr-25
- Methodology | Corporate Rating | Jul-25
Related Research
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PACRA withdraws the Rating of Ghani Chemical Industries Limited | PP Sukuk | PKR 800mln | Jan-24
| Rating Type | Debt Instrument | |
|
Current (17-Feb-26 ) |
Previous (03-Apr-25 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | A+ |
| Short Term | - | - |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the ratings, PACRA withdraws the Rating of Ghani Chemical Industries Limited | PP Sukuk | PKR 800mln | Jan-24 with immediate effect.
-
About
the Entity
GCIL is a listed entity, incorporated in 2015. The Company is a subsidiary (~56%) of Ghani Global Holdings Limited which is owned majorly by the Ghani Family (~52.64%). The remaining shareholding lies in Ghani Products (Pvt.) Ltd ~18%, directors of the Company and the general public. Members of the sponsoring family majorly represent Ghani Chemicals’ seven-member board. Mr. Masroor Ahmad Khan is the Chairman of the board while Mr. Hafiz Farooq Ahmad holds the office of CEO.
About
the Instrument
The PP Sukuk PKR 800mln has been transferred from Ghani Chemical Industries Ltd. to Ghani Chemworld Limited, an entity not rated by PACRA.