Lahore, January 12, 2018 (PPI-OT):The rating incorporates the strength of the sponsors of Hassan Ali Rice as reflected in the business structure of the group (Hashwani Group of Companies) and overall growing principles of the business. Hassan Ali is a big player, primarily focused on export market, with customers expanding over multiple countries. HAREC doesn’t have any long term debt.
The Working Capital borrowing are aligned to business cycle, though timely repayment from the client is crucial to settle the obligations. HAREC is a sole proprietorship hence, the room for improvement in governance structure is significant. The ratings are dependant upon the maintained business volume and Profitability. Adherence to sound financial discipline while strengthening debt servicing capacity (cash overages) is vital for the rating.
For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425