Press Release

VIS Withdraws Preliminary Ratings of Proposed Commercial Paper of Waves Home Appliances Limited (formerly Samin Textiles Limited)

Karachi, August 17, 2023: VIS Credit Rating Company Limited (VIS) has withdrawn the preliminary instrument rating of ‘A-2’ (A-Two) to proposed Commercial Paper (CP) issue of up to Rs. 500m of Waves Home Appliances Limited (WHALE), formerly Samin Textiles Limited, with immediate effect due to non-issuance of the instrument. Previous rating action was announced on December 14, 2022.

For further information on this rating announcement, please contact Ms. Asfia Amanullah or the undersigned (Ext. 207) at 021-35311861-4 or email at info@vis.com.pk.



Sara Ahmad
Director


VIS Entity Rating Criteria: Corporates (May 2023)
https://docs.vis.com.pk/docs/CorporateMethodology.pdf

VIS Issue/Issuer Rating Scale:
https://docs.vis.com.pk/docs/VISRatingScales.pdf

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 August 17, 2023 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.