Press Release

VIS Withdraws Entity Ratings of Shafi Texcel Limited

Karachi, December 06, 2023: VIS Credit Rating Company Limited (VIS) has withdrawn entity ratings of ‘BBB+/A-2’ (Triple B Plus/A-Two) assigned to Shafi Texcel Limited (STL), with immediate effect, on account of the management’s decision to discontinue the ratings. Previous rating action was announced on December 19, 2022.

For further information on this ratings announcement, please contact Mr. Saeb Muhammad Jafri at 021-35311861-64 (Ext. 202) and/or the undersigned at 021-35311861-64 (Ext. 207) or email at info@vis.com.pk.


Sara Ahmed
Director

Applicable 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 December 06, 2023 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.