Press Release

VIS Withdraws Rating Assigned to Short Term Sukuk Instrument of Agha Steel Industries Limited

Karachi, April 1, 2024: VIS Credit Rating Company Limited has withdrawn the instrument rating of 'A-1' ('A-One') assigned to the Short-term Sukuk of Agha Steel Industries Limited ('ASIL' or 'the Company') with immediate effect, on account of the decision by the Company’s management to discontinue this rating. Previous rating action was announced on December 21, 2023.

For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.





Applicable Rating Criteria: Corporates:
https://docs.vis.com.pk/docs/CorporateMethodology.pdf

Rating the Issue
https://docs.vis.com.pk/docs/Rating-the-Issue-Aug-2023

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 April 01, 2024 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.