PACRA Maintains Rating of Byco Petroleum Pakistan Ltd

MG News | December 10, 2018 at 03:25 PM GMT+05:00

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December 10, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained rating of Byco Petroleum Pakistan Limited (Sukuk) at ‘AAA’ for Long-term, with a stable outlook forecast.

The rating reflects unconditional and irrevocable credit guarantee available to Sukuk holders from a multilateral guarantor - GuarantCo. Limited, rated AAA (May'18) by PACRA. The guarantee covers 100% of issue amount (principal).

The issuer maintains and efficiently manages 'Debt Service Reserve Account' (DSRA) under lien of the Security Trustee whereby the installments (Principal plus Profit) are being made regularly prior to due date.

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