Karachi: VIS Credit Rating Company Limited has placed the entity ratings of Rousch (Pakistan) Power Limited of 'AA/A-1' on Rating Watch with a Developing outlook, following previous adjustments in May.
According to VIS Credit Rating Company Limited, the adjustment reflects ongoing discussions about a potential settlement agreement with the government that could affect the company’s power purchase frameworks. The ratings agency anticipates further review upon the closure of these discussions and a forthcoming shareholder meeting in November.
Rousch (Pakistan) Power Limited operates a 450 MW thermal power station in Abdul Hakim Town, Punjab, with significant ownership stakes held by Power Management Company, Siemens Project Ventures, and Electricity Supply Board of Ireland. Negotiations center on a draft Negotiated Settlement Agreement approved by the company’s board but pending shareholder endorsement.