Filling & Packing Material Manufacturing Co. (FIPCO) was assigned a “BBB+” rating of the investment grade by SIMAH's Credit Rating Agency (Tassnief), with stable outlook, the company said in a bourse statement on Sunday.
The rating reflects the company’s efficiency, quality, its current position of capital structure and liquidity, risk management and balanced strategy.
“The excellent rating reflects our strong financial position, assuring FIPCO’s ability to obtain the required finance for any current or future strategic investments in a way that maximizes the market value of its shareholders,” Faisal Bin Mohammed Al Harbi, chairman of the board said.
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