Basic HTML Version
NOTES TO AND FORMING
PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
237
PAKISTAN OILFIELDS LIMITED
39.2 Credit quality of financial assets
The credit quality of Group's financial assets have been assessed below by reference to external credit
ratings of counterparties determined by The Pakistan Credit Rating Agency Limited (PACRA) and JCR
- VIS Credit Rating Group Limited (JCR-VIS). The counterparties for which external credit ratings were
not available have been assessed by reference to internal credit ratings determined based on their
historical information for any defaults in meeting obligations.
2020
2019
Rating
Rupees ('000)
Trade debts
Counterparties with external credit rating
A1+
2,547,285
4,565,140
A1
4,733,131
3,783,390
A2
257,333
426,890
Counterparties without external credit rating
Existing customers/ joint venture partners
with no default in the past
96,331
132,781
7,634,080
8,908,201
Advances, deposits and other receivables
Counterparties with external credit rating
A1+
318,529
320,845
Counterparties without external credit rating
Existing customers/ joint operating partners
with no default in the past
297,138
155,284
Receivable fromemployees/ employeebenefit plans
206,187
125,737
Receivable from parent company
36,258
889
Others
112,727
33,003
970,839
635,758
Bank balances
Counterparties with external credit rating
A1+
36,838,279
35,839,825
A1
647
233
36,838,926
35,840,058