KARACHI- VIS Credit Rating Company Limited has reaffirmed the entity ratings of Feroze1888 Mills Limited, a leading textile manufacturer in Pakistan, according to a stock exchange filing by the company on Thursday.
The rating action was disclosed under Section 96 and Section 131 of the Securities Act, 2015, and communicated to the Pakistan Stock Exchange (PSX) through a material information notice. The reaffirmation underscores continued investor confidence in the company’s financial fundamentals and operating performance.
While the official disclosure did not specify the exact rating levels in the notice, Feroze1888 Mills has historically maintained a ‘AA-’ long-term and ‘A-1+’ short-term credit rating from VIS, accompanied by a stable outlook. These ratings reflect the company’s strong market position, solid cash flows, and prudent financial management, despite sectoral headwinds.
Feroze1888 is a key player in Pakistan’s home textile export industry and one of the country’s largest exporters of terry towels and related products. The company operates an integrated manufacturing setup and is a long-standing supplier to global retail giants such as Walmart and IKEA.
The reaffirmation by VIS signals that the company has sustained its operational and financial profile amid a challenging economic environment marked by high inflation, currency volatility, and elevated interest rates. The full press release from VIS has been attached by the company in its filing with the PSX.
