The Pakistan Credit Rating Agency Limited
23-Dec-16
Analyst
Ayesha Qasim
ayesha.qasim@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Rating Modifiers | Outlook and Rating Watch | Jun-16
- Correlation between Long-term and Short-term rating | Jun-16
- Corporate Rating | Jun-16
Related Research
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Sukuk Issued by Engro Fertilizers Limited Fully Redeemed: Rating Withdrawn |ST Sukuk | May-16
| Rating Type | Debt Instrument | |
|
Current (23-Dec-16 ) |
Previous (18-Nov-16 ) |
|
| Action | Withdraw | Maintain |
| Long Term | AA- | AA- |
| Short Term | - | - |
| Outlook | - | Stable |
| Rating Watch | - | - |
Engro Fertilizers Limited (EFert) issued a secured, privately placed Sukuk of PKR 5,000mln in May16. The instrument was issued for a period of 6 months. The Sukuk has been fully redeemed in a timely manner. Subsequent to redemption, PACRA has withdrawn the rating [AA-] of the said instrument.
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