VIS Assigns Initial Entity Ratings to Bhimra Textile Mills (Private) Limited - Press Release issued by VIS Credit Rating Company Limited.

Karachi -- March 27, 2019 (PPI-OT)

Following is the text of press release issued by VIS Credit Rating Company Limited

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VIS Credit Rating Company Limited (VIS) has assigned initial entity ratings of 'BBB-'/A-2' (Triple B Minus/A-Two) to Bhimra Textile Mills (Pvt.) Limited (BTML). The medium to long-term rating of 'BBB-' denotes adequate credit quality coupled with reasonable and sufficient protection factors. Moreover, risk factors may vary with possible changes in the economy. The short-term rating of 'A-2' denotes good certainty of timely repayment, sound liquidity factors and good company's fundamentals. Outlook on the assigned ratings is 'Stable'.

BTML is small size spinning mill which generates 100% sales through local customers. Shareholding is mainly vested with the sponsoring family which is actively involved in the day to day affairs of the company. The group also manages a well-known cafAA(c) in Lahore. The company generated sales growth during last three years...