VIS Maintains ER Of STML

KARACHI, (UrduPoint / Pakistan Point News - 24th Aug, 2022 ) :VIS Credit Rating Company Limited maintained entity ratings of Sunrays Textile Mills Limited at single A minus nus/A-one.

Long - term entity rating of 'A-' reflects good credit quality, adequate protection factors. Risk factors may vary with possible changes in the economy, said a press release on Wednesday.

Short Term Rating of 'A-1' indicates high certainty of timely payment, liquidity factors are excellent and supported by good fundamental factors. Risk factors are minor.

Outlook on the assigned is The previous rating action was announced on June 08, 2021.

SUTM is a part of the Indus Group of Companies, which is a sizeable player in the country's textile business with an annual turnover of over $ 300 million.