The Pakistan Credit Rating Agency Limited
28-Sep-26
Analyst
Anam Waqas Ghayour
anam.waqas@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Debt Instrument Rating | Sep-25
- Methodology | Rating Modifiers | Apr-26
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Apr-26
- Methodology | Corporate Rating | Jul-26
Related Research
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PACRA Withdraws the Rating of Mughal Iron & Steel Industries Limited - Syndicated TFC - PKR 2.50bln
| Rating Type | Debt Instrument | |
|
Current (28-Sep-26 ) |
Previous (02-Mar-26 ) |
|
| Action | Withdraw | Preliminary |
| Long Term | - | AA- |
| Short Term | - | - |
| Outlook | Stable | |
| Rating Watch | - | - |
PACRA assigned a preliminary rating to Mughal Iron & Steel Industries Limited | Syndicated TFC | PKR 2.5bln | TBI in Mar'2026. The company was intended to issue a rated, secured, syndicated TFC, having an original tenor of three years. However, the management of the Company has decided not to issue the instrument.
Subsequent to the management's decision to discontinue the rating, PACRA withdraws the rating of Mughal Iron & Steel Industries Limited | Syndicated TFC | TBI with immediate effect.
About
the Entity
Mughal Iron & Steel Industries Limited, a public limited company incorporated in 2010, is primarily engaged in the manufacturing and sale of mild steel products related to ferrous segments. Mr. Khurram Javaid serves as the CEO and is the driving force behind the Company.