April 8, 2019: VIS Credit Rating Company Limited has upgraded the short-term rating of Naveena Exports Limited from A-Two to A-One. The medium to long-term rating has been maintained at single A Minus. Moreover, the outlook on the assigned ratings has also been revised from stable to positive, said a press release on Monday.
The long-term rating of 'A-' signifies good credit quality and that protection factors are adequate. Risk factors may vary with possible changes in the economy.
The short-term rating of 'A-1' signifies high certainty of timely payment. Liquidity factors are excellent and supported by good fundamental protection factors.
The positive outlook assigned to the ratings incorporate enhanced operating performance and financial profile along with improvement in textile sector outlook given supportive government policies.