The Pakistan Credit Rating Agency Limited
22-Feb-17
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
- Debt Instrument | Jun-16
Related Research
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TFC I Issued by Pakistan Refinery Fully Redeemed: Rating Withdrawn
| Issuer | Pakistan Refinery Limited |
| Instrument | TFC-I |
| Amount | PKR 2244 mln |
| Issuance Date | 16-Aug-13 |
| Tenor | 36 Years |
| Redemption Date | 01-Jan-70 |
| Outstanding Amount | - |
| Rating Type | Debt Instrument | |
|
Current (22-Feb-17 ) |
Previous (29-Jun-16 ) |
|
| Action | Redeem | Maintain |
| Long Term | A | A |
| Short Term | - | - |
| Outlook | Stable | Stable |
| Rating Watch | - | - |
Pakistan Refinery Limited (PRL) has redeemed its TFC I (Taraqqi I) of PKR 2.24bln, issued in Dec'13 for a period of 3 years. Subsequent to payment by PRL of outstanding amount at maturity in Dec'16, PACRA has withdrawn the rating [A (Single A)] of the said TFC.
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