Press Release

VIS Credit Rating Company Suspends Entity Ratings of Sitara Textile Industries Limited

Karachi, January 30, 2023: VIS Credit Rating Company Limited (VIS) has suspended the entity ratings of of ‘BBB+/A-2’ (Triple B Plus/A-Two) assigned to Sitara Textile Industries Limited (STIL) with immediate effect due to non-availability of required information for ratings analysis. The ratings will be reassessed as and when required information is available. Previous rating action announced on December 31, 2021.

For further information on this rating announcement, please contact Ms. Syeda Batool Zehra Zaidi (Ext: 210) or the undersigned (Ext: 207) at 021-35311861-66 or email at info@vis.com.pk.


Sara Ahmed
Director

Applicable Criteria: Industrial Corporates (August 2021)
https://docs.vis.com.pk/docs/CorporateMethodology202108.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 January 30, 2023 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.