PACRA Maintains Instrument Rating of Pakistan Mobile Communications Ltd
MG News | November 08, 2018 at 04:19 PM GMT+05:00
November 8, 2018 (MLN): Pakistan Credit rating Agency (PACRA) has maintained the debt instrument ratings of Pakistan Mobile Communications Limited, ‘AA’ for long term, with a ‘positive’ outlook.
As per an official press release on the matter, the ratings incorporate robust business profile of the company, represented by a leading market share of approximately 37% in the country's cellular subscribers (approximately 56 million).
“This strong share has been achieved with organic and inorganic growth,” said the agency.
Optimizing on its single brand "Jazz", the company commands solid volumes and strong margins. Additionally, in collaboration with Mobilink Microfinance Bank, an associate entity, the company is establishing a strong digital banking platform.
“The ratings are dependent on the sustenance of (i) leading market position (ii) strong profitability and (iii) adequate debt profile. Meanwhile, extending growth in mobile data services is considered important,” elaborated PACRA.
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