Fitch downgrades Abans

Fitch Ratings said it downgraded Abans (Pvt) Ltd.'s national long-term rating to A-(lka) from A(lka).

The outlook is stable.

The downgrade reflects weaknesses in its management information system, coupled with concerns regarding the quality and timeliness of information provided by the company to the rating agency, Fitch said.

These concerns come on the back of significant adjustments to management's financial accounts by the company's auditors, the agency said.

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