JCR-VIS Credit Rating Company Limited has assigned initial entity ratings of single A/A-One to Faisal Spinning Mills Limited (FSML).
Outlook on the assigned ratings is stable, said press release on Friday.
FSML is part of Umer Group of Companies, which owns diversified business interests with primary focus in textiles. Principal activity of FSML includes production of yarn and fabric to primarily cater to the requirements of the export market.
The company has one spinning unit based in Nooriabad, Sindh and one weaving unit located in Ferozewatan, Sheikhupura. Spinning unit of the company is engaged in production of coarse yarn, while weaving unit manufactures greige cloth.