Amtex's Sukuk rating reaffirmed

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term rating of A (single A) assigned to the five year privately placed Sukuk of Rs 650 million, issued by Amtex Limited (Amtex). The Sukuk is fully secured via a bank guarantee. The issue is further secured against second charge on all present and future fixed assets excluding freehold land and building on freehold land of the company.
The TFC is redeemable in quarterly instalments and is to be fully redeemed by October 2012.-PR