Press Release

JCR-VIS Withdraws Preliminary Rating assigned to PTC issue of Sitara Chemical Industries Limited

Karachi, October 16, 2014: JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn the preliminary rating of ‘AA-’ (Double A Minus) assigned to Islamic Participation Term Certificates (PTCs) of Rs. 1.0 billion proposed to be issued by Sitara Chemical Industries Limited, with immediate effect, following the management’s decision to postpone issuance of PTCs for an indefinite period.

For further information on this rating announcement, please contact Ms. Sobia Maqbool, CFA at 021-35311861-70 or Mr. Maimoon Rasheed at 042-36610681-84.

Jamal Abbas Zaidi
Deputy CEO

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 2014 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