KARACHI: VIS Credit Rating Company Limited has announced the withdrawal of entity ratings for Lakeside Energy Limited, effective immediately, following a decision by the company's management to discontinue the ratings. This move comes after the last rating action was announced on August 17, 2023.

According to a statement by VIS Credit Rating Company Limited, the decision to withdraw the ratings was made by the management of Lakeside Energy Limited. The company did not provide additional reasons for the discontinuation of the ratings.

The withdrawal of the ratings marks a significant development for Lakeside Energy Limited, which has been under the ratings coverage of VIS. The entity ratings were an important aspect of the company's financial assessment and market perception.

This action underscores the autonomy of corporate entities in deciding their participation in ratings assessments, which can impact investor relations and market positioning.