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

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