Reduced competition in market reaps benefits for PIBTL: PACRA

By MG News | March 04, 2019 at 09:55 AM GMT+05:00

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March 4, 2019 (MLN): Pakistan Credit Rating Agency (PACRA) has assigned initial entity ratings to Pakistan International Bulk Terminal Limited (PIBTL) at ‘A2’ for short term and at ‘A-‘ for long term. The outlook forecast on this rating action in ‘stable’, according to a press release issued by the agency, on the occasion.

Explaining the action in detail, the document delivers that the ratings draw strength from the Pakistan International Bulk Terminal Limited's (PIBT) distinguished position in its operating segment.

Lately, reduced competition in the market has reaped benefits to the company in enhancing its business volumes speedily, the rating agency pointed out.

“The ratings are dependent on upholding of strong business profile amidst unforeseen changes in the competitive landscape. Self-sufficiency in meeting debt obligations is the key factor, which may be supplemented by extended support, if need be,” concluded PACRA.

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