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Pakistan

JCR-VIS reaffirms entity ratings of STML

Published October 25, 2016 Updated October 25, 2016 04:41pm
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By Parvez Jabri
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imageKARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Sapphire Textile Mills Limited (STML) at `A+/A-1' (Single A Plus/ A-One).

The outlook on the assigned ratings remains positive. The previous rating action was announced on June 1, 2015, said press release on Tuesday.

Ratings take into account the emerging diversification in the corporate profile of the company from a textile products dominated unit to one with diversified revenue streams from investments and wind power projects.

The high growth textile retail segment is another area where company plans to expand its outreach.

Copyright APP (Associated Press of Pakistan), 2016

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