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MarketScreener Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Sitara Chemical    SITC   PK0033301018

SITARA CHEMICAL

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Sitara Chemical : VIS maintains ER of Sitara Chemical Industries Ltd

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11/09/2019 | 04:00am EST

VIS Credit Rating Company Limited has maintained the Entity Ratings (ER) of Sitara Chemical Industries Limited at single A Plus/A-One. The outlook on the assigned ratings has been revised from positive to stable.

The medium to long-term rating of "A+" signifies good credit quality with strong protection factors. Moreover, risk factors may vary with possible changes in economy, said press release on Friday.

The short-term rating of "A-1" denotes high certainty of timely payments coupled with excellent liquidity and supported by good fundamental protection factors. The previous rating action was announced on Nov. 14, 2018.

The ratings assigned to SCIL take into account its leading position in chlor-alkali sector and strong sponsor profile. The ratings draw comfort from increasing evenues and largely sustained gross margins despite economic slowdown. Moreover, sound coverages and comfortable gearing levels provide strength to the ratings.

© Pakistan Press International, source Asianet-Pakistan

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Managers
NameTitle
Muhammad Adrees Chief Executive Officer & Executive Director
Abdul Awal Chairman
Anwar-ul-Haq Chief Financial Officer
Haseeb Ahmed Executive Director
Nawaz Ahmad Non-Executive Director
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