Devalued rupee and govt policies bode well for Kohinoor Mills: VIS

News Image

MG News | March 12, 2019 at 09:47 AM GMT+05:00

0:00

March 12, 2019 (MLN): VIS Credit Rating Company Limited (VIS) has assigned initial entity ratings of ‘BBB+/A-2’ (Triple B-Plus /A-Two) to Kohinoor Mills Limited (KML).

According to a press release issued by VIS on this occasion, the medium to long-term rating of ‘BBB+’ denotes adequate credit quality coupled with reasonable protection factors. Meanwhile, the short-term rating of ‘A-2’ denotes good certainty of timely payments.

“Risk factors are considered variable if changes occur in the economy. Liquidity factors and company fundamentals are considered sound,” said the agency. Outlook on the assigned ratings is ‘Stable’.

Adding on, the press release said that the assigned ratings take into account the company’s adequate scale of integrated textile operations and factor in moderate business risk profile; the company has been able to increase its revenues and largely sustain profitability in a highly competitive international market

Further, the ratings incorporate KML as a key supplier to globally renowned brands while maintaining an adequate customer concentration.

Moreover, recent devaluation of Pak rupee and favorable government policies bode well for the company. The ratings also draw comfort from the company’s strong BoD profile, experienced management team and adequate corporate governance framework.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 158,443.42
686.33M
-2.85%
-4654.77
ALLSHR 96,486.01
1,361.32M
-2.81%
-2790.24
KSE30 48,740.26
296.81M
-2.88%
-1444.29
KMI30 230,110.46
188.70M
-3.45%
-8223.06
KMIALLSHR 63,648.04
732.81M
-3.26%
-2144.50
BKTi 44,558.02
124.99M
-2.40%
-1095.50
OGTi 30,903.39
28.23M
-4.36%
-1409.86
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,230.00 116,500.00
114,110.00
-760.00
-0.65%
BRENT CRUDE 63.49 63.95
62.90
0.76
1.21%
RICHARDS BAY COAL MONTHLY 81.00 0.00
0.00
-0.60
-0.74%
ROTTERDAM COAL MONTHLY 89.30 89.30
89.15
-0.35
-0.39%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 59.66 60.17
59.00
0.76
1.29%
SUGAR #11 WORLD 15.57 16.21
15.53
-0.53
-3.29%

Chart of the Day


Latest News
October 13, 2025 at 04:05 PM GMT+05:00

PSX Closing Bell: Meltdown Mode


October 13, 2025 at 03:40 PM GMT+05:00

Justice (R) Junaid Ghaffar named CAT Chairman


October 13, 2025 at 03:35 PM GMT+05:00

Thatta Cement concludes Rs5.5bn sukuk transaction


October 13, 2025 at 03:34 PM GMT+05:00

PKR remains flat, closes at 281.16 against USD


October 13, 2025 at 02:37 PM GMT+05:00

Trump calls himself ‘Good' at solving wars



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg