VIS Assigns IER To Rousch (Pakistan) Power

VIS Credit Rating Company Limited has assigned initial entity ratings of double A Minus/A-One to Rousch (Pakistan) Power Limited

KARACHI, (UrduPoint / Pakistan Point News - 28th Jun, 2019 ) :VIS Credit Rating Company Limited has assigned initial entity ratings of double A Minus/A-One to Rousch (Pakistan) Power Limited.

The long-term rating of "AA-" signifies high credit quality; protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions. The short- term rating of "A-1" signifies high certainty of timely payment; liquidity factors are excellent and supported by good fundamental protection factors. Risk factors are minor.

Outlook on the assigned ratings is stable, said press release on Friday.

RPPL operates a 450 MW combined cycle thermal power plant near SidhnaiBarrage, Abdul Hakim Town, Khanewal District, Punjab. Power Management Company (Private) Limited (PMCL), a subsidiary of Altern Energy Limited , has majority shareholding in the company with 60% ownership. Further, the ultimate parent company is Descon Processing (Private) Limited. Other major shareholders include Siemens Project Ventures of Germany and Electricity Supply board of Ireland holding 26% and 7.33% of shares, respectively.