JKB Financial Services Ltd.

As on : 12-Oct-2026

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12-Oct-2026 23:03

CARE Ratings upgraded Panama Petrochem's outlook to 'Positive,' citing strong performance and financial health

Panama Petrochem Ltd announced that CARE Ratings Limited and CARE Ratings Ltd. have reaffirmed ratings on its various banking facilities and instruments, with CARE Ratings Limited revising the outlook on its Long-Term Bank Facilities from ‘Stable’ to ‘Positive’ and reaffirming the Short-Term Bank Facilities at CARE A1+ as of October 12, 2026; CARE Ratings Ltd. reaffirmed Long-Term Bank Facilities at CARE A+ with an outlook revised from Stable to Positive, and reaffirmed Short-Term Bank Facilities at CARE A1+, reflecting sustained volume, scale, and profitability, while acknowledging vulnerability to base oil prices and forex fluctuations, and also reaffirmed Fund-based Long-Term – Cash Credit at CARE A+; Positive and CARE A+; Stable, and Non-fund-based Short-Term – Bank Guarantee/Letter of Credit at CARE A1+; CareEdge Ratings noted a consolidated business and financial profile with Panol Industries, RMC FZE (PIRF), and emphasized that ratings represent opinions on the likelihood of timely payment, with no rating data present for Corporate Bonds and Debentures or for an unspecified instrument, amount, rating, action, and notes.

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