CR-VTS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term entity rating of Saudi Pak industrial and Agricultural Investment Company Limited (SAPICO) at 'AA+' (Double A Plus) with a 'Stable' Outlook. Short-term rating has also been reaffirmed at A-1+' (A One Plus), says a press release issued here on Wednesday.
The ratings of Saudi Pak Industrial & Agricultural Investment Company Limited (SAPICO) incorporate joint, venture, holding' of two sovereigns ie, Government of Pakistan and Kingdom of Saudi Arabia. Ratings draw comfort from the strong financial risk profile of the Kingdom of Saudi Arabia, evident from the sovereign ratings of 'A A-/Stable/A-1 assigned to it by a global credit rating agency.-PR