Karachi, VIS Credit Rating Company Limited has officially withdrawn the 'A-1' ('A-One') rating previously assigned to the Short-term Sukuk instrument of Agha Steel Industries Limited (ASIL), following a management decision to discontinue the rating.

According to VIS Credit Rating Company Limited, the withdrawal comes after the company’s announcement on December 21, 2023, concerning the assigned rating. The decision to discontinue the rating was taken by ASIL’s management, leading to the immediate effect of withdrawal by the credit rating agency.