Press Release
VIS places Entity and Sukuk -1 rating of Sunridge Foods (Private) Limited on Rating Watch-Developing
Karachi, March 16, 2026: In line with representations made by the senior management of Sunridge Foods (Private) Limited, the Company maintains operational and legal independence in the conduct of its business affairs. In the absence of a Chief Executive Officer, the Company continues to operate under the oversight of its existing Board of Directors and established management framework.
However, in light of ongoing legal proceedings involving sponsors at the parent company level, Unity Foods Limited (UFL), VIS Credit Rating Company Limited (VIS) has placed the entity and Sukuk-1 rating of BBB+/A3 (Triple B Plus/ Single A Three) and AAA (Triple A) respectively on ‘Rating Watch – Developing’. Earlier, on March 4, 2026, the entity ratings of UFL were suspended following a public notice issued by UFL regarding three separate civil proceedings initiated between different sponsors, with UFL named as a party.
VIS will continue to monitor developments and will take appropriate rating action once greater clarity emerges regarding the outcome of the legal proceedings and any potential implications for the Company.
For further information on this ratings announcement, please contact on 021-35311861-64 or email at info@vis.com.pk.
Applicable Rating Criteria: Corporate Rating:
https://docs.vis.com.pk/docs/CorporateMethodology.pdf
Instrument rating
https://docs.vis.com.pk/Methodologies-2025/IRM-Apr-25.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/Methodologies-2025/IRM-Apr-25.pdf