FLASHNEWS:

VIS Halts Ratings for Pakistan Tiles After Contract Non-Renewal

Karachi, VIS Credit Rating Company Limited (VIS) has announced the withdrawal of its entity ratings for Pakistan Tiles (Pvt) Limited, effective immediately. This decision comes as a result of the non-renewal of the rating contract by Pakistan Tiles.

According to VIS Credit Rating Company Limited, the last evaluation occurred on May 24, 2023, which will stand as the final rating action due to the termination of the contract. The specific ratings previously assigned were not disclosed in the announcement. The withdrawal marks a significant development for Pakistan Tiles as it continues its operations without an active rating from VIS.