Press Release

Ratings of Saudi Pak Leasing Company Limited

Karachi, October 04, 2010: JCR-VIS Credit Rating Company Limited (JCR-VIS) has revised the issue ratings of Saudi Pak Leasing Company Limited (SPLC) from ‘C’ (Single C) to ‘D’. The rating action has been triggered on account of overdue payments against TFC issue of Rs. 750m, which is in the process of being restructured at the request of the issuer.

Furthermore, JCR-VIS has withdrawn the entity ratings of ‘C/C’ (Single C/C) with ‘Negative’ outlook assigned to SPLC, with immediate effect, on account of non-renewal of rating contract.

For further information on this rating announcement, please contact Ms. Sobia Maqbool (Ext: 506) or Ms. Sabeen Saleem (Ext: 510) at (+92-21) 35311861-70 or fax to (+92-21) 35311873.



Faheem Ahmad
President & CEO

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