JCR-VIS Assigns Initial Rating To Union Fabrics

JCR-VIS Credit rating Company Limited's commodity index has assigned initial entity ratings of single A Minus/A-Two to Union Fabrics (PVT) Limited (FUPL)

KARACHI, (UrduPoint / Pakistan Point News - 21st Nov, 2017 ) :JCR-VIS Credit rating Company Limited's commodity index has assigned initial entity ratings of single A Minus/A-Two to Union Fabrics (PVT) Limited (FUPL).

The outlook on the assigned ratings is stable, said press release on Tuesday. Union Fabrics (Pvt) Limited was started in 1992 as a small scale weaving unit. Now, it has been operating in the home textiles, processing and value added business lines in addition to weaving.

The company has five plants situated in S.

I.T.E area. The company's greige fabric product and various home textile products form a significant part of its exports sales. UFPL has strong presence in the export market for home textiles and greige fabrics.

Large European brands and distributors of home textile products based in Italy, United Kingdom and Germany are some of the major clients of UFPI. The company has planned to cater to this export market with a larger quantity of its home textile products.