VIS assigns IER to J.K Spinning Mills Limited

KARACHI: VIS Credit Rating Company Limited has assigned initial entity ratings of single A Minus/A-One to J.K Spinning Mills Limited.

The medium to long-term rating of "A-" signifies good credit quality; protection factors are adequate. Risk factors may vary with possible changes in the economy. The short-term rating of "A-1" signifies high certainty of timely payments; liquidity factors are excellent and supported by good fundamental protection factors. Outlook on the assigned ratings is stable, said press release on Thursday.

JKSM, a part of J.K Group, operates spinning, weaving and stitching divisions, and home textile offered as its key products. Majority shareholding is vested within the sponsoring family which is actively involved in the operations of the company.