KARACHI: VIS Credit Rating Company Limited (VIS) has maintained the entity ratings of Master Changan Motors Limited (‘MCML’ or ‘the Company’) at ‘A-/A2’ (Single A Minus/A Two), respectively.
Medium to long-term rating of ‘A-’ reflects good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy. Short-term rating of ‘A2’ signifies good likelihood of timely repayment of short-term obligations with sound short-term liquidity factors.
Outlook on the assigned rating has been revised from ‘Stable’ to ‘Positive’. Previous rating action was announced on January 23, 2024.
MCML is principally engaged in the assembly and progressive manufacturing and sale of pickups and vans and passenger cars. The assigned ratings incorporate MCML’s affiliation with experienced and sound sponsors - Changan Automobile Investment (Shenzhen) Corporation Limited (Changan) and Master Motor Corporation (Private) Limited (MMCL).
Changan is one of China’s leading state-owned enterprises with international presence, while MMCL is part of well-diversified Master Group of Companies which has presence in mattresses & upholstery, home fashion, textile, chemical, power, automobile and auto part sectors.
Copyright Business Recorder, 2025