Karachi, August 17, 2023 (PPI-OT): VIS Credit Rating Company Limited (VIS) has withdrawn the preliminary instrument rating of ‘A-2’ (A-Two) to proposed Commercial Paper (CP) issue of up to Rs. 500m of Waves Home Appliances Limited (WHALE), formerly Samin Textiles Limited, with immediate effect due to non-issuance of the instrument. Previous rating action was announced on December 14, 2022.

For more information, contact:

Director Compliance and Rating Analytics,

VIS Credit Rating Company Limited

VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,

Phase VII, DHA, Karachi, Pakistan

Tel: +92-21-35311861-72

Fax: +92-21-35311873

Email: [email protected]

Website: https://www.vis.com.pk/