VIS Credit Rating Company Limited (VIS) has upgraded the ratings of The Organic Meat Company Limited (TOMCL) to ‘A/A-1’ from ‘A-/A-2’.
The meat exporter company shared this development with the Pakistan Stock Exchange (PSX) through a notice on Tuesday.
“The long-term rating of ‘A’ indicates good credit quality with adequate protection factors, while the short-term rating of ‘A-1’ reflects high certainty of timely payment with excellent liquidity factors and minor risk factors. The rating outlook is ‘Stable’,” read the notice.
The company said that key factors supporting the rating upgrade include TOMCL’s strong market position as a major processor and exporter of red meat, the largest capacity in slaughtering to packaging, and a significant presence in 16 export markets.
TOMCL’s product range includes various forms of processed meat, pet chews, and cooked meat products. The company’s efficient business model minimizes wastage and leverages byproducts.
TOMCL was incorporated on July 14, 2010 as a private limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). The company’s principal activities are the processing and sale of halal meat and allied products.
