KARACHI:VIS Credit Rating Company Limited has upgraded entity ratings of Artistic Wind Power (Pvt.) Limited (AWPPL) from single A minus/A-) to single A/A-two. Long term rating of ‘A’ indicates good credit quality; adequate protection factors. Riskt factors may vary with possible changes in the economy.
Short-term rating of ‘A-2’ denotes good certainty of timely payment; sound liquidity factors and company fundamentals. Access to capital markets is good. Risk factors are small. Outlook on the assigned ratings is stable. Previous rating action was announced on March 16, 2021.
AWPPL is a 50MW wind power plant situated in Jhimpir, District Thatta, Sindh. It is a wholly owned subsidiary of Artistic Milliners (Pvt.) Limited (AMPL).