JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the rating of ‘A+’ (Single A Plus) assigned to the Sukuk issued by Century Paper & Board Mills Limited (Century). Outlook on the rating is ‘Stable’.
The rating derives comfort from the improvement in industry dynamics and strong support from sponsors. Century’s cash flow position posted marked improvement in line with the improved profitability. Debt servicing coverage ratio in FY11 was recorded at 1.4x. (Press Release)