VIS Withdraws Ratings for Cotton Web Limited

Karachi: VIS Credit Rating Company Limited has withdrawn the entity ratings assigned to Cotton Web Limited, effective immediately, following the management’s decision to discontinue the ratings. The previous rating action for the company was announced on January 1, 2024.

According to a statement by VIS Credit Rating Company Limited, the decision to withdraw the ratings was taken at the request of Cotton Web Limited’s management. The statement did not provide further details on the reasons behind the management’s decision.

Cotton Web Limited, commonly referred to as CWL, has not commented on the withdrawal of its ratings. The company, which operates in the textile sector, had its ratings reviewed by VIS until the recent decision.

The withdrawal of ratings means that VIS will no longer provide an assessment of CWL’s creditworthiness. This move can impact the company’s visibility and perceived reliability in the financial markets.

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