August 22, 2019 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained the ‘Debt Instrument’ rating of Pak Arab Fertilizers Limited at ‘A-‘, for long term with a ‘Developing’ outlook forecast.
As per an official press release on this occasion, PACRA apprised that Fatima Group, an associated company of Pak Arab Fertilizer, is in process to venture an undertaking to secure gas supply to Pak Arab's plant by laying gas pipeline – which is in last phase of its completion.
They further explained that the rating is kept under 'Rating watch' with 'Developing' outlook in anticipation to surveil the complete roll-out of the acquisition plan. “The ratings would be updated once the evolving position is settled and financial statements for 2018 are finalized,” said PACRA.
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