Press Release

JCR-VIS withdraws Bank Loan Rating of Trans World Associates (Pvt.) Limited

Karachi, March 06, 2017: JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn the bank loan rating of ‘A (blr)’ (Single A (blr)) assigned to Trans World Associates (Pvt.) Limited’s (TWA) Rs. 4.1b bank loan facility obtained to fund the laying of an undersea fiber optic cable namely South East Asia-Middle East-Western Europe 5 cable (SMW5), with immediate effect, on account of non-renewal of rating contract. Previous rating action was announced on October 5, 2015.

For further information on this rating announcement, please contact the undersigned (Ext: 207) or Mr. Javed Callea (Ext: 201) at 021-35311861-70 or fax to 021-35311873.

Jamal Abbas Zaidi

Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. JCR-VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2017 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited