Press Release

JCR-VIS Assigns Final Rating of A- to the Sukuk Issue of Quetta Textile Mills Ltd.

Karachi, September 23, 2008: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned final medium-to-long-term rating of A- (Single A minus) to the Sukuk certificates of Rs. 1.385 billion Quetta Textile Mills Limited. The outlook on the rating is ‘Stable’. In addition to the first charge on secured assets, the Sukuk issue is secured by a corporate guarantee of Rs. 200m from First Dawood Investment Bank Limited to meet any shortfall in payment obligations arising on the Sukuk issue.

For further information on this rating announcement, please contact Mr. Safdar Kazi (safdar@jcrvis.com.pk) or Ms. Sabeen Saleem (sabeen@jcrvis.com.pk) at 021-5311861 or fax to 021-5311873.


Faheem Ahmad
President & CEO

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright September 23, 2008 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.