The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of Engro Chemical Pakistan Limited at "AA" (Double A) "A1+" (A One Plus) respectively. The ratings of ECPL's three TFCs have been maintained at "AA" (Double A). These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.
The ratings reflect ECPL's relatively low business risk emanating from a stable, indeed growing, fertilisers demand amidst continuing domestic supply deficit. The ratings also take into account the company's well-conceived strategy of fortifying its position through a sizeable urea expansion project. Meanwhile, the company's standalone financial profile is expected to remain intact after planned spin-oil of fertiliser operations, along with all related assets and liabilities, to a wholly owned subsidiary - Engro Fertiliser Limited.-PR
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