VIS upgrades TOMCL's ratings to ‘A/A-1’

MG News | July 02, 2024 at 12:12 PM GMT+05:00

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July 02, 2024 (MLN): The VIS Credit Rating Company (VIS) has upgraded the entity ratings of The Organic Meat Company Limited (TOMCL) to 'A/A-1' from 'A-/A-2', the company’s filing on PSX revealed today.

The long-term rating of 'A' indicates good credit quality with adequate protection factors, while the short-term rating of `A-1' reflects high certainty of timely payment with excellent liquidity factors and minor risk factors. The rating outlook is 'Stable'.

Key factors supporting the rating upgrade include TOMCL's strong market position as a major processor and exporter of red meat, the largest capacity in slaughtering to packaging, and a significant presence in 16 export markets.

TOMCL's product range includes various forms of processed meat, pet chews, and cooked meat products.

The company's efficient business model minimizes wastage and leverages byproducts.

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