Press Release

VIS withdraws Preliminary Commercial Paper Rating of HPL

Karachi, October 14, 2020: VIS Credit Rating Company Limited (VIS) has withdrawn the preliminary instrument rating of ‘A-3’ (Single A Three) assigned to the proposed Commercial Paper Rating of Hascol Petroleum Limited (HPL) with immediate effect on account of the instrument not being issued. Previous rating action was announced on September 4, 2019.

For further information on this rating announcement, please contact Ms. 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:
Oil & Gas Industry (June 2019) https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/Corporate-Methodology-201904.pdf
Industrial Corporates (May2019) https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/Meth-OilGas201906.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 14, 2020 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.