Press Release

JCR-VIS Revises the Ratings of Saudi Pak Leasing Company Limited

Karachi, August 23, 2010: JCR-VIS Credit Rating Company Limited (JCR-VIS) has revised the entity ratings of Saudi Pak Leasing Company Limited (SPLC) to ‘C/C’ (Single C/C) from ‘B/B’ (Single B/B). The rating assigned to outstanding TFC issue of Rs. 750m has also been revised to ‘C’ (Single C). The rating action has been taken on account of SPLC’s proposal to restructure the outstanding principal payment of the said facility. Outlook on the assigned ratings continues to be ‘Negative’.

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 .