Press Release

VIS Withdraws Sukuk 1 rating of Agha Steel Industries Limited

Karachi, August 16, 2023: VIS Credit Rating Company Limited (VIS) has withdrawn the instrument rating of Agha Steel Industries Limited (ASIL)’s Sukuk 1 on account of redemption through exercise of call-option on August 11, 2023. The Sukuk was issued on October 09, 2018. Assigned instrument rating was ‘A+’ (Single A Plus) with a ‘Rating Watch – Developing’ outlook. Last rating action was announced on April 20, 2023.

For further information on this rating announcement, please contact Ms. Asfia Amanullah (Ext: 212) or the undersigned (Ext: 201) at 021-35311861-71 or email at info@vis.com.pk.



Sara Ahmed
Director

VIS Entity Rating Criteria: Corporates (May 2023)
https://docs.vis.com.pk/docs/CorporateMethodology.pdf

VIS Issue/Issuer Rating Scale:
https://docs.vis.com.pk/docs/VISRatingScales.pdf

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