PAKISTAN: VIS Credit has assigned an ‘A+’ instrument rating to Agha Steel Industries’s Sukuk with a ‘Rating Watch-Developing’ outlook, according to a rating note. The rating was placed on ‘Rating Watch-Developing’ on account of an intention to exercise the call option on the Sukuk for full payment of the outstanding amount. ASIL has an entity rating of ‘A/A-2’ with a negative outlook as of the 13th December 2022.