KARACHI, Jan 23: JCR-VIS credit rating company has reaffirmed the long and medium term rating of Shakarganj Mills Ltd at A single minus with stable outlook and the short term rating at A2.

The TFC-1 issue rating has also been reaffirmed at single A plus and TFC-2 issue rating at single A with stable outlook, says a press release.

SML is currently in the process of issuing commercial papers of Rs300 million to meet its working capital requirements. The commercial papers will be issued in three equal tranches with bullet repayments after 270 days from the respective issue dates.