Press Release

Ratings of Saudi Pak Leasing Company Limited

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Furthermore, JCR-VIS has withdrawn the entity ratings of ‘C/C’ (Single C/C) with ‘Negative’ outlook assigned to SPLC, with immediate effect, on account of non-renewal of rating contract.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

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 2010 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .