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KARACHI, 9 June: JCR-VIS credit rating company has assigned medium to long term and short term entity rating of BBB (Triple B) and A-3 (A Three), respectively, to Gharibwal Cement Limited (GCL). In addition it also assigned the preliminary rating of A- (Single A Minus) to the proposed TFCs of Rs400m (with a further green shoe option of Rs100m) to be issued by the company. The outlook on the medium to long term entity and TFC rating is ‘Stable’. The preliminary rating will be converted into final rating after review of the relevant signed legal document.
