LAHORE, Feb 1: The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of the Pakistan State Oil (PSO) at “AAA” (triple A) and “A1+” (single A one plus).

A Pacra announcement said on Wednesday that the ratings denoted the lowest expectation of credit risk emanating from an exceptionally strong capacity for timely payment of financial commitments. These are the best ratings on Pacra’s rating scale, it said.

The ratings reflect PSO’s very strong capital structure, sustained robust performance and improved cash flows. At the same time, the ratings take into account the company’s continuous quest for efficiency improvement, expanding product range and increasing automation.