Jazz’s long-term credit rating updated to ‘AA’ by PACRA

The Pakistan Credit Rating Agency Limited (PACRA) has upgraded Jazz’s long-term rating to the highest credit quality of ‘AA’ with a stable outlook. The rating depicts the strong financial depth of the company in the industry. This review was conducted by incorporating the company’s business profile and performance with the long-term rating dependent upon the leading market position, healthy revenue growth and profitability, and dynamic financial environment.

An upgrade to its credit rating allows Jazz far-reaching market access to meet the funding pertinent for technology upgrade and 4G network expansion. Moreover, it also reflects on its strong financial profile, liquidity and commitment towards the lending community.

PACRA highlighted in its report that the company’s financial profile exhibits a stable outlook demonstrated by eased working capital strategies, comfortable coverages and moderate leveraging (Dec’20).
As Pakistan’s largest telecom operator, Jazz holds 38% market share with 69 million subscribers (at the time of the review i.e. 21 March 2021). Jazz is also the market leader in 4G after witnessing remarkable growth in 4G subscribers (61%) during CY20.

Gabor Kocsis, CFO – Jazz said, “Jazz’s high credit rating reaffirms its leadership position within the local cellular industry. It also indicates that we were able to cope with the pandemic and other unexpected challenges. The company’s strategy focuses on investing in 4G network expansion, promoting the uptake of digital financial services and digital tools, and increasing its share in the local market through innovative offerings and providing cutting edge business solutions. Jazz will continue to optimize its operational costs in a way that encourages innovation and provides better services and products to customers as well as outstanding returns to shareholders”.

PACRA is Pakistan’s first rating agency and its rating lends credence to the financial competence and the strength of the company.

Leave A Reply

Your email address will not be published.

Most Searching Mobile Phones: Tecno Camon 17 Pro | Tecno Camon 17 |Infinix Note 10 Pro | vivo V21 | Realme Narzo 30A | Tecno Spark 6 Go|OPPO F 19 Pro |Oppo Reno5 Pro 5G |Realme 8 Pro  | xiaomi redmi note 8oppo a1k price | oppo a7 pakistan | infinix hot 8 | vivo y91 price | realme 3 price pakistan | vivo v17 pro price | vivo y11 pakistan | samsung m10 price | realme x price in pakistan | infinix s3 price | oppo k1 price in pakistan | vivo v11 pro pakistan | realme 2 pro price | infinix smart 2 price | vivo y19 | oppo f7 youth price | samsung m40 pakistan | infinix hot 6 price | nokia 3310 4g price | vivo nex 3 price | honor 6x price in pakistan | huawei nova 5i price | moto e5 plus price in pakistan | infinix zero 5 price | vivo Y51 Price | infinix zero 8 price

Other Searching Brands in Pakistan: Meizu mobile phones | Itel mobile Pakistan | Smartphones by Google | qmobile | Telenor mobilephones | asus mobile Pakistan | huawei mobiles | blu smartphones | samsung mobile phones | nokia smartphones | gionee mobile price | OnePlus mobile prices | TCL smartphones | Microsoft Windows smartphones