Dhaka, May 24, 2018 (PR) - Both Summit Corporation Limited (SCL) - the holding company of all power concerns of Summit Group and Summit Power Limited (SPL) - the publicly listed power generation company, have received long term AAA (pronounced as triple A) and short term ‘ST-1’ credit rating by Credit Rating Information & Services Limited (CRISL).
CRISL stated that the long term AAA credit rating of SCL and SPL indicates the highest safety and have highest credit quality of these companies. While, short term rating ST-1 indicates highest certainty of timely repayment. These are highest possible ratings.
About Summit Corporation Limited (SCL):
Summit Corporation Limited (SCL) is the holding company of power concerns of Summit Group. SCL being a privately held company has a publicly listed subsidiary Summit Power Limited (SPL) in Dhaka and Chittagong stock exchanges. Summit Power Limited (SPL) is the largest Independent Power Producer (IPP) in Bangladesh. Recently, Summit has completed construction-to-power-generation of 300 MW power plant in Kodda, Gazipur in only nine months from issuance of Letter of Intent (LoI) and expected to complete another 149 MW plant soon.