British American Tobacco Bangladesh Limited, only listed tobacco company, has been rated highest level credit rating ‘AAA’ in long term and ‘ST-1’ in the short term for highest credit quality and outstanding financial commitments for shareholders for the first time.
Credit Rating Information and Services Limited (CRISL), a public limited company dedicated for credit rating and related services, has certified BATB’s for the rating recently examining its audited financial statement and updated information up to December 31, 2014.
BATB obtains the AAA for high quality of credit with highest safety, risk free and negligible risk factors and the ST-1 for highest certainty of timely and safety payment and short term liquidity for the shareholders.
Finance Director of BATB William Pegel says, “This is the recognition of our strong and confidential financial commitments to our shareholders. The rating indicates our excellent financials, healthy and sustainable franchise and first rated operating environment.”
AAA credit rating is the height possible rating assigned to the bonds of a company by credit rating agencies. The rating means company’s strong capacity of repayment for stock holders and congenial position in stock market.
It is noted that BAT Bangladesh is the highest tax payer private company to the government. About 15% of company share is owned by the government of the people’s republic of Bangladesh and the board of directors of the company is controlled by the government high officials. The company is run by the proper decisions and directions of this board.