VIS Assigns IER To Syntronics Ltd

VIS Credit Rating Company Limited has assigned Initial Entity Ratings (IER) of triple B Plus/A-Two to Syntronics Limited (SL).

KARACHI, (UrduPoint / Pakistan Point News - 11th Dec, 2019 ) :VIS Credit Rating Company Limited has assigned Initial Entity Ratings (IER) of triple B Plus/A-Two to Syntronics Limited (SL).

The medium to long-term rating of "BBB+" denotes adequate credit quality coupled with reasonable protection factors. Moreover, risk factors are considered variable if changes occur in the economy. The short-term rating of "A-2" denotes good certainty of timely payments. Liquidity factors and company fundamentals are considered sound.

Outlook for the assigned ratings is stable, said a press release on Wednesday.

SL is primarily involved in the manufacturing of Ad*Star PolypropyleneLaminated Bottom Block Sacks which is mainly used as packaging in cement industry. The company also manufactures polypropylene bags used in other industries like sugar, feed, flour, fertilizer etc. Shareholding is mainly vested with the sponsoring family who are actively involved in the day to day affairs of the company.