VIS revises At-Tahur outlook to positive

VIS has kept At-Tahur Ltd’s entity ratings at A-/A2 and changed the outlook from stable to positive, Mettis Global reported on November 03, 2026. VIS last reviewed the ratings on 14 July 2025; the long-term grade indicates good credit quality, while the short-term assessment reflects a good capacity to meet near-term obligations.

The agency cited At-Tahur’s FY26 sales recovery, supported by stronger demand, and its ability to preserve its financial and liquidity position. Margins showed mixed movement: gross margin eased slightly amid higher forage costs, while net margin improved as expenses rose more slowly and non-operating income increased. Borrowing-related leverage remains low, although it edged higher.

VIS also pointed to stable demand, brand strength, diversified products and the company’s livestock base as business supports, while noting competition and inflation pressure. Planned feed purchasing, herd expansion, Gulf exports, further product diversification and partial use of solar and biomass energy are among the factors relevant to the ratings outlook.