Press Release

VIS Suspends Entity Ratings of Magna Textile Industries (Pvt.) Limited

Karachi, March 15, 2024: VIS Credit Rating Company Limited (VIS) has suspended the entity ratings of ‘BBB/A-2’ (Triple B/A-Two) assigned to Magna Textile Industries (Pvt.) Limited (MTIL), with immediate effect on account of pending information for ratings analysis. Ratings will be reassessed as and when the required information becomes available. Previous rating action was announced on March 16, 2023.

For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.





Applicable Rating Criteria: Corporates
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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