FLASHNEWS:

VIS Withdraws Ratings of Quality Textile Mills Following Contract Non-Renewal

Karachi, VIS Credit Rating Company Limited (VIS) has officially withdrawn the entity ratings previously assigned to Quality Textile Mills Limited (QTML). The decision, effective immediately, is due to the non-renewal of the rating contract by QTML. The last rating action before this withdrawal was recorded on January 8, 2024.

According to VIS Credit Rating Company Limited, the withdrawal reflects procedural compliance following the expiry of the contractual agreement with QTML, which opted not to renew its ratings assessment. The implications of this withdrawal for QTML's financial and market standing were not detailed in the announcement.