Press Release

Ratings of Shajar Roads Limited

Karachi, September 25, 2019: VIS Credit Rating Company Limited (VIS) has placed the entity ratings of Shajar Roads Limited (SRL) under ‘Rating Watch-Developing’ status in the view of delay in financial close of dualization project of the existing single track 43km Sheikhupura - Gujranwala Road (SGR) mainly due to pending finalization of “Project License Agreement” and some other factors, upon completion of which ratings would be reviewed. SRL currently has entity ratings of ‘A/A-2’ (Single A/A-Two). The medium to long-term rating of ‘A’ denotes good credit quality coupled with adequate protection factors. The short-term rating of ‘A-2’ denotes good certainty of timely payments. Liquidity factors and company fundamentals are considered sound. The previous rating action was announced on January 04, 2018.

For further information on this rating announcement, please contact undersigned or Mr. Maimoon Rasheed at 021-35311861-70/042-35723411 or fax to 021-35311872-3.


Javed Callea
Advisor

VIS Entity Rating Criteria: Corporates (May 2019)
https://www.vis.com.pk/kc-meth.aspx

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