KARACHI: VIS Credit Rating Company Limited has reaffirmed entity ratings of Muller & Phipps Pakistan Private Limited at single A plus /A-One.
Outlook on the assigned ratings is stable. Previous rating action was announced on January 15, 2021, said release on Monday.
Assigned ratings continue to factor in M&P’s leading market position in the distribution industry.
Ratings reaffirmation takes into account the established and diversified principal base and business sectors, sizeable infrastructure, sufficient resources and extensive outreach with nation-wide distributional coverage.
Ratings also take note of robust growth trend in sales revenue over the years, sound liquidity and capitalization metrics along with sound corporate governance infrastructure which is supported by a well-designed organizational structure and adequate IT platform.