VIS Assigns BB+/B Initial Credit Rating to iTANZ Technologies

iTANZ Technologies Limited has received an initial entity credit rating of ‘BB+/B’ from VIS Credit Rating Company Limited (VIS), with a Stable outlook, according to a disclosure submitted to the Pakistan Stock Exchange (PSX).
 
The rating represents VIS’s initial assessment of the company’s credit profile and has been disclosed under Clause 5.6.1 of the PSX Regulations.
 
The company said the complete rating action, including VIS’s rationale, assessment of iTANZ Technologies’ business profile and applicable disclosures, has been provided in the accompanying credit rating report.
 
The rating announcement was submitted to the PSX for dissemination to members, shareholders and the general public.
 
The ‘BB+/B’ rating reflects VIS’s assigned assessment of the company’s creditworthiness, while the Stable outlook indicates that VIS’s current assessment does not anticipate an immediate change in the rating direction.

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