VIS Reaffirms ER Of Century Paper And Board Mills

VIS Credit Rating Company Limited has reaffirmed the Entity Ratings (ER) of Century Paper and Board Mills Limited at single a plus/A-One

KARACHI, (UrduPoint / Pakistan Point News - 21st Nov, 2019 ) :VIS Credit Rating Company Limited has reaffirmed the Entity Ratings (ER) of Century Paper and board Mills Limited at single a plus/A-One. The outlook on the rating is stable.

Long term rating of "A+" signifies good credit quality with adequate protection factors. Risk may vary slightly from time to time because of economic conditions. Short term rating of "A-1" depicts high certainty of timely payment where liquidity factors are excellent and supported by good fundamental protection factors.The previous rating action was announced on Nov.

20, 2018, said a press release on Thursday.

Assigned ratings incorporate CPBM's market leadership position in the coated paperboard segment with the company catering to 36% and 53% of the total and quality segment demand, respectively.

Despite challenging macroeconomic environment, industry dynamics for thecoated paperboard segment have remained supportive while overall financial profile remains adequate with leverage indicators having declined on a timeline basis. Ratings also draw support from strong sponsor profile of CPBM with majority shares held by Lakson Group of Companies.