VIS Matures Rating for Al-Karam Textile Mills’ Short Term Sukuk-1

Karachi: VIS Credit Rating Company Limited (VIS) has announced the maturity of the rating for the Short Term Sukuk-1 (STS-1) issued by Al-Karam Textile Mills (Private) Limited. The sukuk, valued at PKR 4.0 billion, has reached its maturity following its issuance on October 15, 2024.

The maturity date of the financial instrument was April 15, 2025, marking the completion of its financial term. VIS provided the information as the official source for this announcement.

The sukuk was part of Al-Karam Textile Mills’ financial strategy, reflecting the company’s ongoing engagement with short-term financial instruments. The completion of this sukuk’s term signifies an important milestone for the company in managing its financial commitments.

Al-Karam Textile Mills, a private entity, continues to engage with financial markets through various instruments, with VIS playing a role in providing credit assessments for its financial products.