Jazz’s credit rating updated to ‘AA’

ISLAMABAD: Pakistan Credit Rating Agency Limited (PACRA) has upgraded Jazz’s long-term rating to the highest credit quality of ‘AA’ with a stable outlook, says a press release.

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.

Jazz holds 38% market share with 69 million subscribers (at the time of the review i.e. 21 March 2021).

Gabor Kocsis, CFO, Jazz said, “Jazz’s high credit rating reaffirms its leadership position within the local cellular industry.