VIS Reaffirms ER KTML

VIS Credit Rating Company Limited has reaffirmed the entity rating of single A plus/ single A-one assigned to Kohinoor Textile Mills Limited, outlook on the assigned rating is stable

KARACHI, (UrduPoint / Pakistan Point News - 22nd Jul, 2022 ) :VIS Credit Rating Company Limited has reaffirmed the entity rating of single A plus/ single A-one assigned to Kohinoor Textile Mills Limited, outlook on the assigned rating is stable.

The long term rating signifies good credit quality with adequate protection factors, said release on Friday.

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.

Previous rating action was announced on January 20, 2021.

Ratings take into account Kohinoor Textile Mills Limited association with Kohinoor Maple Leaf Group.

The Group has a presence in textile, cement, power generation and investment management.

KTML has a vertically integrated setup and is principally engaged in the manufacturing of yarn and cloth, processing and stitching the cloth and trade of textile products.

Existing manufacturing facilities of KTML comprise two spinning units, one weaving unit and a home textile unit.

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