Press Release

VIS assigns final rating of ‘AA’ to facility of Avari Hotels Limited
 

Karachi, April 10, 2020: Subsequent to the execution of legal documents, VIS Credit Rating Company Limited has finalized the rating of ‘AA’ (Double A) assigned to the facility issued by Avari Hotels Limited (AHL), amounting to Rs. 4.3b (Rs. 2b of Islamic Musharaka and Rs. 2.3b of conventional financing). Outlook on the rating is ‘Stable’. The preliminary rating for the facility was announced on September 17, 2018.

AHL issued this facility in October 2019. Repayment of the facility is going to be made over tenure of 8 years.

For further information on this rating announcement, please contact the undersigned (Ext: 201) or Ms. Muniba Abdullah, CFA (Ext: 215) at 021- 35311861-66 or email at info@vis.com.pk.


Faryal Ahmad Faheem
Deputy CEO

Applicable Rating Criteria: Corporates (May 2019)
https://www.vis.com.pk/kc-meth.aspx

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