LAHORE, Oct 2: The Pakistan Credit Rating Agency (Pacra) has maintained long-term rating of “AA” (double A) and short-term rating of “A1+” (A one plus) for the Security Papers Ltd.

A Pacra announcement issued here on Thursday said the ratings denoted a very low expectation of credit risk and a very strong capacity for timely payment of financial commitments. The ratings are applicable to the senior unsecured creditors of the company, it said.

The ratings recognize the company’s strong financial profile emanating from maintained performance and sound coverage. The company’s position of being the sole supplier of currency paper with assured demand and low gearing is reflective of low business and financial risks, the announcement said.