VIS Finalizes Rating for K-Electric’s PKR 5 Billion Sukuk

Karachi: VIS Credit Rating Company Limited (VIS) has concluded the rating process for K-Electric Limited’s (KEL) Short Term Sukuk (STS-25), which was valued at PKR 5.0 billion. The issuance and maturity of this financial instrument took place on May 2, 2024, and November 2, 2024, respectively.

According to a statement by VIS Credit Rating Company Limited, the previous rating action for the STS-25 was disclosed on May 31, 2024. The completion of this rating marks a significant step in the financial operations of K-Electric Limited, a major utility provider in the region.

The STS-25 was assessed to provide investors with an understanding of the financial standing and creditworthiness of the issuer, K-Electric Limited. This Sukuk was part of the company’s ongoing efforts to manage its financial liabilities and investment activities.

K-Electric Limited, a significant entity in the power sector, regularly engages in such financial undertakings to support its operations and infrastructure development. The company continues to play a crucial role in the energy supply of Karachi and its surrounding areas.

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