Pakistan Credit Rating Agency Limited maintains Security Grading of Wackenhut Pakistan

Lahore, December 14, 2015 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained Security Grading of Wackenhut Pakistan (Pvt.) Limited (WPPL) at “SG2” (SG two). The grading denotes WPPL’s strong ability to provide protection services as per terms of contract.

WPPL is one of the largest players in security services industry and part of an integrated group, Pathfinder, which offers a wide range of security solutions. Synergies from group companies remain a distinct advantage for WPPL. The company has developed extensive infrastructure and policies to support its operations. One of WPPL’s core strength lies in its robust processes and guidelines for selection, verification, training, and welfare of security guards.

The group is streamlining its operation by segregating its man guarding and cash-in-transit (CIT) business. WPPL would specialize in CIT business, while its man guarding services would get transferred to Security and Management Services (SMS), another group company. This would bring focus to company’s operations and should enable it to penetrate further in the high margin CIT segment. Effective transition and sustainability in operation would be critical. Financial profile of company remains stressed due to relatively high level of debt compared to cash flows.

For more information, contact:
Hammad Rashid
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com