Press Release

VIS finalizes rating to Rs. 3.5b Islamic Commercial Paper of K-Electric Limited

Karachi, August 25, 2020: VIS Credit Rating Company Limited (VIS) has finalized the rating of A-1+ (Single A One Plus) to K-Electric Limited’s (KE) proposed Islamic Commercial Paper (ICP-8) issue of up to Rs. 3.5billion. The ICP-8 will have a tenor of 6 months which will be utilized for funding KE’s working capital requirements. The assigned ratings incorporate strategic importance of KE, strong business risk profile, and adequate financial profile. Previous rating action was announced on March 24, 2020.

For further information on this rating announcement, please contact Mr. Talha Iqbal (Ext: 213) or the undersigned (Ext. 306) at 021-35311861-70 or email at info@vis.com.pk.


Faryal Ahmad Faheem
Deputy CEO

Applicable Rating Criteria: Industrial Corporates - April 2019
https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/Corporate-Methodology-201904.pdf

Rating The Issue (July 2020)
https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/Notchingtheissue202007.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 25, 2020 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.