Press Release

VIS Matures Rating of Short Term Sukuk (STS-16) of K-Electric Limited

Karachi, October 12, 2023: VIS Credit Rating Company Limited (VIS) has matured rating of K-Electric Limited’s (KE) Short Term Sukuk (STS-16) issue amounting Rs. 5.0 billion. Issuance and maturity dates of the instrument were April 11, 2023 and October 11, 2023, respectively. Previous rating action was announced on April 19, 2023.

For further information on this rating announcement, please contact the undersigned at 021-35311861-64 (Ext. 207) or email at info@vis.com.pk.


Sara Ahmed
Director



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

Rating The Issue (August 2023)
https://docs.vis.com.pk/docs/Rating-the-Issue-Aug-2023.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 October 12, 2023 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.