The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of Al-Abbas Sugar Mills Limited (AASML) at "A" (Single A) and "A1" (A One) respectively. These ratings are applicable to the senior unsecured creditors of the bank.
These ratings denote a low expectation of credit risk emanating from a strong Capacity for timely payment of financial commitments. AASML's ratings reflect the Company's Sound capital structure, operational efficiency and management quality.
The ratings also recognise diversification in the company's operations - sugar and distillery - that has helped to some extent in managing relatively high business risks an inherent feature of the cyclical nature of sugar business.-PR
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