PACRA assigns initial entity ratings to Pak-Arab Pipeline

MG News | November 26, 2018 at 02:18 PM GMT+05:00

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November 26, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has assigned initial entity ratings to Pak-Arab Pipeline Company Limited, of ‘AAA’ for long term and ‘A1+’ for short term, with a ‘stable’ outlook forecast.

As per official notification from PACRA, the rating is a reflection of PAPCO’s distinctive business model driving its strength from a tariff based return model.

“The ratings are dependent on the sustained business operations and industry wide fundamentals. Strong cash flows enabling relevant coverages to its debt repayments is prerequisite,” elaborated the agency in the bulletin.

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