VIS Maintains ER Of Sitara Chemical Industries Ltd
Muhammad Irfan 13 days ago Fri 08th November 2019 | 08:32 PM
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 inchlor-alkali sector and strong sponsor profile. The ratings draw comfort from increasing revenues and largely sustained gross margins despite economic slowdown. Moreover, sound coverages and comfortable gearing levels provide strength to the ratings.