VIS reaffirms Entity Ratings of Ali Gohar and Company (Private) Limited - Press Release issued by VIS Credit Rating Company Limited.

Karachi -- July 08, 2020 (PPI-OT)

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

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VIS Credit Rating Company Ltd. has reaffirmed entity ratings of Ali Gohar and Company (Private) Limited (AG and C) at 'A/A-2' (Single A/A-Two). Outlook on the assigned rating is 'Stable'. The 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-2' signifies good certainty of timely payment. Liquidity factors and company fundamentals are sound. Access to capital markets is good. Risk factors are small. The previous rating action was announced on September 28, 2018.

AG and C is principally engaged in distribution of goods and services. The Company operates in three segments including pharmaceutical, medical devices and consumer goods. The assigned ratings take into account AG and C's position as one of the leading national level distribution companies in the country. Ratings take into account AG and C's low business risk profile and sound distribution infrastructure and controls.

Overall corporate governance framework is supported by stable and professional management team and sound IT infrastructure. Ratings also reflect the Company's sound financial profile as...