VIS assigns initial ratings to Master Textile Mills Limited

News Image

MG News | April 19, 2019 at 12:04 PM GMT+05:00

0:00

April 19, 2019 (MLN): VIS Credit Rating Company Limited (VIS) has assigned initial entity ratings of ‘A/A-1’ to Master Textile Mills Limited (MTML). Outlook on the assigned rating is ‘Stable’.

The medium to long-term rating of ‘A’ denotes good credit quality with adequate protection factors. Moreover, risk factors may vary with possible changes in economy. The short-term rating of ‘A-1’ denotes high certainty of timely payments coupled with excellent liquidity and good fundamental protection factors.

The assigned ratings take into account MTML’s association with the Master Group, having interest in mattress business, textiles, automobile, engineering, chemical and energy sectors. The ratings draw comfort from positive momentum in sales, margins and profitability indicators on a timeline basis, and notable experience of senior management in the industry.

Moreover, the company is comfortably placed in terms of coverages and liquidity indicators. The ratings remain constrained by inherent volatility in the textile sector. The ratings remained dependent on maintenance of leverage indicators within acceptable limits.

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,435.00 119,740.00
116,460.00
-860.00
-0.73%
BRENT CRUDE 73.39 73.63
71.75
0.88
1.21%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.27 70.51
68.45
1.06
1.53%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg