Press Release

JCR-VIS Revises Sukuk Rating of Quetta Textile Mills Limited

Karachi, March 21, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has revised the Sukuk rating of Quetta Textile Mills Limited (QTML) from ‘BBB-’ (Triple B Minus) to ‘BB’ (Double B). Outlook on the rating remains ‘Negative’.

The rating action has been taken in view of the latest information made available, as per which, sponsor support may not be forthcoming, as earlier expected and the issuer may not be able to meet the payment due on March 26, 2012.

For further information on this rating announcement, please contact Ms. Sobia Maqbool, CFA (Ext: 506) or Mr. Javed Callea (Ext: 501) at 92-21-35311861-70 or fax to 92-21-35311873.

Jamal Abbas Zaidi
Deputy 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 2012 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.

JCR-VIS Credit Rating Company Limited