Karachi, October 24, 2008: JCR-VIS Credit Rating Company Limited (JCR-VIS) has finalized the medium to long-term rating of ‘A’ (Single ‘A’) assigned to the TFCs issue of Rs. 1.7b of JDW Sugar Mills Limited (JDW). Outlook on the assigned rating is ‘Stable’.
The bond is secured by first pari passu hypothecation charge over all present and future fixed assets of JDW and United Sugar Mills Limited (USM) along with 25% margin. The security package also includes personal guarantees of sponsor directors of the company.
For further information on this rating announcement, please contact Mr. Safdar Kazi (Ext: 501) or Ms. Sobia Maqbool (Ext: 506) at 5311861-70 or fax to 5311872-3.
President & CEO
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