PACRA maintains entity ratings of Halmore Power Generation Ltd

MG News | November 22, 2018 at 11:00 AM GMT+05:00

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November 22, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained the entity ratings of Halmore Power Generation Company Limited at ‘A+’ for Long-term and ‘A1’ for short-term, with a stable outlook forecast.

Halmore Power Generation Company Limited (Halmore Power) runs a 225MW power plant.

The Company's operations and maintenance operator, General Electric International (GE), is a key source of comfort in managing the plant's operations.

According to the rating agency, Halmore Power has total long term debt of PKR 4,716mln as at end-Sept18 payable till December 2020.

Accumulation of circular debt would pose threat to the company’s ability to continue with this practice.

Any significant increase in overdue receivables, as a result of rise in circular debt, may impact the ratings.

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