Karachi, December 22, 2021 (PPI-OT):Upon submission of legal documentation, VIS Credit Rating Company Limited (VIS) has finalized the ratings of ‘A-2’ (A-Two) assigned to Commercial Paper (CP) issue of Rs. 100 million of Next Capital Limited (NCL). The CP has a tenor of 9 months with bullet repayment due in May, 2022. The proceeds are being utilized for working capital requirements of the brokerage business.

The CP is expected to be retired largely through internal liquidity management along with the future funding arrangements, if needed. NCL has outstanding entity ratings of ‘A-/A-2’ (Single A Minus/A-Two). Outlook on the assigned ratings is ‘Stable’. Previous rating action was announced on March 10, 2021.

For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/