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The Pakistan Credit Rating Agency Limited

Date
31-Jul-2017
Analysts
Rai Umar Zafar
rai.umar@pacra.com

Muhammad Hassan
muhammad.hassan@pacra.com

+92-42-35869504
www.pacra.com
Applicable Criteria

  • Correlation between long-term and short-term rating scale (Jun 17) [View]
  • Methodology | Independent Power Producers (IPP) (May 17) [View]
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PACRA Withdraws Entity Ratings of Sapphire Electric Company Limited
 Rating Type Entity
Current
(31-Jul-2017)
Previous
(09-Mar-2016)
 Action Withdraw Maintain
 Long Term - A+
 Short Term - A1
 Outlook - Stable
 Rating Watch - -

Subsequent to the decision of the management of Sapphire Electric Company Limited, PACRA withdraws its Entity Ratings [Long Term: 'A+' (Single A Plus) and Short Term: 'A1+' (A One Plus)] with immediate effect.
The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.
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