KARACHI: State Bank of Pakistan (SBP) has renewed the status of two leading credit rating agencies.
In a circular issued on Tuesday, the central bank renewed the status of both credit rating agencies operating in Pakistan namely ‘VIS Credit Rating Company Limited (VIS)’ and ‘The Pakistan Credit Rating Agency Limited (PACRA)’ as eligible / recognized External Credit Assessment Institutions for the calendar year 2019.
Banks and DFIs using the standardized approach of Basel framework are allowed to use credit ratings assigned by VIS and PACRA for capital adequacy ratio (CAR) calculation purposes.
