PACRA Maintains Instrument and Entity Ratings of Pakistan Services Ltd

MG News | November 20, 2018 at 10:39 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 20, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained the entity ratings of Pakistan Services Limited at ‘A+’ for long term and ‘A1’ for short term, and Instrument ratings at ‘AA-’ for long term. The outlook forecast on these ratings is ‘stable’.

According to the rating agency, the ratings reflect Pakistan Services Limited’s strong position in the hospitality industry as the market leader drawing comfort from the Company’s association with Hashoo Group.

Furthermore, its ratings are dependent on effective implementation of envisaged strategy while maintaining modest leveraging and improving coverages. Any significant delay in commencement of new projects, deterioration in margins/coverages and material dilution in liquid investments (other than debt repayment) will have a negatively impact on ratings.

Pakistan Services Limited has witnessed growth over the years amid improving security conditions and progression of CPEC with stable margins. However, ongoing political scenario impacted the Company's profitability and coverages negatively during 3MFY19.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	169,392.33 140.87M	0.85% 1421.67
ALLSHR	102,246.77 370.03M	0.62% 626.89
KSE30	50,468.10 50.48M	0.76% 379.72
KMI30	241,108.75 61.37M	0.48% 1151.64
KMIALLSHR	66,245.50 219.95M	0.50% 327.36
BKTi	46,992.31 14.07M	0.64% 300.00
OGTi	34,488.93 4.55M	0.11% 37.74

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,080.00	79,110.00 75,575.00	-3070.00 -3.88%
BRENT CRUDE	108.46	108.76 105.10	2.78 2.63%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	2.75 2.16%
ROTTERDAM COAL MONTHLY	138.50	138.50 138.50	-0.80 -0.57%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	104.69	104.81 101.21	3.30 3.25%
SUGAR #11 WORLD	17.98	18.30 17.91	-0.18 -0.99%