AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, The Pakistan Credit Rating Agency Limited (PACRA) has revised the credit ratings for National Refinery Limited (NRL). According to information available from the Pakistan Stock Exchange (PSX), the long-term and short-term entity ratings have been adjusted to “AA” and “A1” respectively, from their previous ratings of “AA+” and “A1+”. These ratings reflect the capacity for timely repayment.
The changes, detailed in PACRA’s letter No.NYFY-24-337 dated May 24, 2024, also include a stable outlook for the company. This update is pursuant to Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of Pakistan Stock Exchange Regulations. The TRE Certificate holders of the Exchange have been informed about these adjustments.