KARACHI: JCR-VIS Credit Rating Company Limited has assigned initial entity ratings of triple B/A-two to Best Exports (Pvt) Limited (BEL).

The medium to long-term rating of "BBB" denotes adequate credit quality coupled with reasonable and sufficient protection factors. Moreover, risk factors are considered variable with possible changes in the economy.

The short-term rating of "A-2" shows good certainty of timely payments, said a press release on Monday.

Liquidity factors and company fundamentals are considered sound and risk factors considered small. Outlook on the assigned ratings is stable.

BEL is a medium sized export-oriented weaving and made-ups unit located in Faisalabad. Shareholding of the company is vested with Waqas Ali who assumed full control of the company after its spin-off from spinning business.