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The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of the Pakistan Mobile Communications Ltd (PMCL) at AA- and A1 respectively. These ratings donate a very low expectations of credit risk emanating from a very strong capacity for timely payment of financial commitment.
The ratings reflect PMCL's substantiated market leadership and strong financial performance emanating from continuing growth in volumes.
Through the increase in financial leverage owing to continuing debt acquisition for supporting expansion has been substantial, the corresponding increase in cash flows allow the company to maintain gearing and respective coverage at an adequate level.
The ratings also incorporate the company's success in sustaining its positioning in an increasingly competitive cellular industry despite some negative publicity on the quality of service front.

Copyright Business Recorder, 2005

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