Press Release

VIS matures rating of Islamic Commercial Paper issued by Mughal Iron & Steel Industries Limited

Karachi, October 27, 2022: VIS Credit Rating Company Limited (VIS) has matured the rating assigned to Mughal Iron & Steel Industries Limited’s Islamic Commercial Paper issue amounting Rs. 1.8b. Issuance and maturity dates of the instrument were July 28, 2021 and July 26, 2022, respectively. The previous rating action was announced on December 28, 2021.
For further information on this rating announcement, please contact Ms. Maham Qasim at 042-35723411-13 (Ext. 8010) and/or the undersigned at 021-35311861-66 (Ext. 207) or email at info@vis.com.pk



Faryal Ahmad Faheem
Deputy CEO

VIS Entity Rating Criteria: Corporates (August 2021)
https://docs.vis.com.pk/docs/CorporateMethodology202108.pdf
Rating The Issue (November 2021)
https://docs.vis.com.pk/docs/Notchingtheissue202007nov.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 28, 2022 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.