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PACRA raises Jazz’s long-term credit rating to’AA’

PACRA raises Jazz's long-term credit rating to'AA'

Pakistan Rating Agency Limited (PACRA) has upgraded the long-term rating of jazz from a stable prospect to the highest credit rating “AA”. The rating indicates the company’s strong financial strength in the industry. The review is conducted by combining the company’s business profile and performance with long-term ratings based on market leadership, stable sales growth and profits, and a dynamic financial environment.

The company’s credit rating allows Jazz to enter the market for a long time to ensure that sufficient funds are provided for technology upgrades and 4G network expansion. In addition, this is also reflected in his strong financial situation, liquidity, and commitment to the credit industry.

PACRA pointed out in its report that the company’s financial position is stable, which is reflected in a loose working capital strategy, convenient hedging, and moderate leverage (December 20). As the largest telecommunications operator in Pakistan, Jazz has a 38% market share and has 69 million subscribers. (As of March 21, 2021) After a significant increase in the number of 4G users in FY20 (61%), Jazz is also in a leading position in the 4G market. Gabor Kocis, Chief Financial Officer of Jazz, said: “Jazz’s high credit rating confirms its leadership. Position in the local mobile phone industry.

This also shows that we can withstand the pandemic and other unexpected challenges. The company’s strategy is to invest in the expansion of 4G networks to promote the introduction of digital financial services and digital tools and to increase its participation in the local market through innovative products. And provide advanced business solutions. He added: “Jazz will continue to optimize its operating costs to promote innovation, provide customers with better services and products, and bring substantial returns to shareholders.” PACRA is the first rating agency in Pakistan, and its ratings prove The financial capabilities and strength of the company.

PACRA raises Jazz's long-term credit rating to'AA'

credit: Pro Pakistani

LAST THOUGHTS:

The rating indicates the company’s strong financial strength in the industry. The company’s strategy is to invest in the expansion of 4G networks to promote the introduction of digital financial services and digital tools and to increase its participation in the local market through innovative products. PACRA is the first rating agency in Pakistan, and its ratings prove The financial capabilities and strength of the company.

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