Fatimafert Limited to merge into Fatima Fertilizers Company Limited

MG News | September 02, 2019 at 12:08 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

September 2, 2019 (MLN): Pakistan Credit Rating Agency (PACRA) has assigned initial entity rating of ‘A-’ for long term to FatimaFert Limited while for short term rating is ‘A2’. The outlook forecasted on rating is ‘stable’.

As per an official press release by the agency, the rating reflects the strength of its sponsor i.e. Fatima Fertilizer Company Limited which offers the dynamic business layout with much financial flexibility.

PACRA further apprised in this document that FatimaFert’s plants were operational onwards September CY18 which contributed 5 % of country’s total urea production.

Company faced gas challenges which badly affected its financial profile despite of favourable demand and supply situation.

Keeping an eye on current scenario, a shrewd business acumen has been laid out as per which FatimaFert Limited is going to be merged in Fatima Fertilizers Company limited; approved by the board.

Moreover, the ratings are kept under 'Rating Watch' in anticipation of merger with Fatima Fertilizer Company Limited.

Copyrights Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,478.94 174.95M	-0.41% -696.57
ALLSHR	102,885.54 725.60M	-0.29% -297.60
KSE30	50,877.61 79.52M	-0.67% -344.88
KMI30	243,917.86 73.26M	-0.62% -1524.88
KMIALLSHR	66,743.35 311.96M	-0.35% -234.16
BKTi	46,317.47 21.24M	-0.81% -377.00
OGTi	35,218.63 5.39M	-1.33% -473.03

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	63,690.00	64,325.00 59,600.00	3175.00 5.25%
BRENT CRUDE	95.36	96.47 95.20	2.27 2.44%
RICHARDS BAY COAL MONTHLY	122.00	0.00 0.00	-0.40 -0.33%
ROTTERDAM COAL MONTHLY	134.35	0.00 0.00	0.35 0.26%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	92.60	93.90 92.36	2.06 2.28%
SUGAR #11 WORLD	14.12	0.00 0.00	-0.02 -0.14%