The Pakistan Credit Rating Agency Limited
08-Oct-26
Analyst
Anam Waqas Ghayour
anam.waqas@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Rating Modifiers | Apr-26
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Apr-26
- Methodology | Independent Power Producer Rating | Jul-26
- Methodology | Debt Instrument Rating | Sep-26
Related Research
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 the Ratings of Lucky Electric Power Company Limited | PPSTS-23 | PKR 6bln | Mar-26 | Redeemed
| Issuer | Lucky Electric Power Company Limited |
| Instrument | Privately Place Short Term Sukuk |
| Amount | PKR 6000 mln |
| Issuance Date | 17-Mar-26 |
| Tenor | 0.6 Years |
| Redemption Date | 17-Sep-26 |
| Outstanding Amount | - |
| Rating Type | Debt Instrument | |
|
Current (08-Oct-26 ) |
Previous (17-Jul-26 ) |
|
| Action | Redeem | Maintain |
| Long Term | - | AA |
| Short Term | - | A1+ |
| Outlook | Stable | |
| Rating Watch | - | - |
As a result of the full repayment, the Pakistan Credit Rating Agency (PACRA) has withdrawn the
ratings assigned to Lucky Electric Power Company Limited - PPSTS-23 - PKR 6 billion - March 2026.
About
the Entity
LEPCL was incorporated in Pakistan on June 13, 2014, as a public unlisted company at Port Qasim,
Karachi, Sindh. Lucky Cement Limited owns 100% shareholding of LEPCL and stands as the flagship
company of the Yunus Brothers Group. The Company's Board comprises eight directors, including the
Chief Executive Officer, with all board members representing Lucky Cement. Mr. Muhammad Ali Tabba,
the Chairman, has been associated with the Group in different capacities for nearly three decades and
currently chairs the Board with his visionary leadership and vast experience.
About
the Instrument
Lucky Electric Power Company Limited (LEPCL) issued a rated, unsecured, unlisted, privately placed Short Term Sukuk, PPSTS-23, amounting to PKR 6,000 million, inclusive of a green shoe option of PKR 2,000 million, in March 2026. The Sukuk matured on 17 September 2026 and was issued to meet the Company’s working capital requirements. The instrument carried a profit rate of 3-Month KIBOR minus 10 basis points, with both profit and principal paid at maturity.