May 15, 2019 (MLN): Pakistan Credit Rating Agency (PACRA) has assigned the initial entity ratings to Global Marketing Services, at “BB+” for long term and “A3” for short term while the outlook on this rating action is “stable”.
On this occasion, the agency remarked via a press release, saying that the ratings are dependent on the company's ability to sustain business volume and margins. In the wake of dwindling profitability, upholding financial discipline is important.
Global Marketing Service (GMS) derives revenue from sales of medical equipment and other supplies, which serve as a key ingredient in the health diagnostic sector.
The ratings of GMS reflect its adequate business fundamentals. The firm imports all of their inventory, hence exposed to currency fluctuation and pricing risk, says PACRA.