Rating Of Waves Singer Pakistan Ltd. Revised

Rating of Waves Singer Pakistan Ltd. Revised

VIS Credit Rating Company Limited has revised the medium to long-term rating of Waves Singer Pakistan Limited from single A minus to single A while maintaining the short-term rating at A-two

KARACHI, (UrduPoint / Pakistan Point News - 8th Sep, 2021 ) :VIS Credit Rating Company Limited has revised the medium to long-term rating of Waves Singer Pakistan Limited from single A minus to single A while maintaining the short-term rating at A-two.

VIS has also assigned the preliminary instrument rating of A-two to the proposed Commercial Paper issue of Rs1.2 billion inclusive of green shoe option of Rs 200 million, said release on Wednesday.

The medium to long-term rating of 'A' denotes good credit quality coupled with adequate protection factors. Moreover, risk factors may vary with possible changes 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 on the assigned rating is stable. Previous rating action was announced on Nov.13, 2020.

WSPL, the holding company, is principally engaged in retailing and trading of domestic consumer appliances and other light engineering products, besides the manufacturing and assembling of the same.

The ratings take into account consolidated numbers of all group companies and incorporate that the marketing arrangements, having favorable impact on consolidated gross margins, will continue within the group companies.