Jul 19

Fitch revises Pakistan’s outlook to negative

HONG KONG: Fitch Ratings on Monday revised Pakistan’s Outlook to Negative from Stable, while affirming its Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘B-‘. In a statement the international rating agency said that the revision of the Outlook to Negative reflects significant deterioration in Pakistan’s external liquidity position and financing conditions since early 2022. “We […]

by Hamza Shahnawaz

SBP renews status of credit rating agencies

Jun 15

Money & Banking

SBP renews status of credit rating agencies

KARACHI: The State Bank of Pakistan (SBP) has renewed the status of credit rating agencies operating in the country. In a statement issued on Wednesday, the central bank said that it renewed the status of VIS and PACRA as Eligible External Credit Assessment Institutions (ECAIs). It further said that the status of both credit rating […]

by Hamza Shahnawaz

Moody’s changes Pakistan’s outlook to negative

Jun 2

Finance, Top stories

Moody’s changes Pakistan’s outlook to negative

SINGAPORE: Moody’s Investors Service on Thursday June 2, 2022 affirmed the Government of Pakistan’s B3 local and foreign currency issuer and senior unsecured debt ratings, the (P) B3 senior unsecured MTN programme rating, and changed the outlook to negative from stable. A statement issued by the Moody’s stated that the decision to change the outlook […]

by Mrs. Anjum Shahnawaz

Jul 1

Money & Banking

Meezan Bank’s credit rating upgraded

KARACHI: VIS Credit Rating Company Limited has upgraded the entity ratings of Meezan Bank Limited (MEBL) to ‘AAA/A-1+’ (Triple A/ A-One Plus) from ‘AA+/A-1+’ (Double A Plus/ A-One Plus). The medium to long-term rating of ‘AAA’ denotes highest credit quality, with negligible risk factors, being only slightly more than for risk-free debt of Government of […]

by Mrs. Anjum Shahnawaz

State Bank renews credit rating agencies status

Jun 15

Money & Banking

State Bank renews credit rating agencies status

KARACHI: The State Bank of Pakistan (SBP) on Tuesday 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 (ECAIs) for the calendar year 2021. Banks and DFIs using the standardized […]

by Mrs. Anjum Shahnawaz

Moody’s assigns stable outlook to top five Pakistani banks

Dec 5

Money & Banking

Moody’s assigns stable outlook to top five Pakistani banks

KARACHI: Following the improved outlook of Pakistan economy, Moody’s Investors Service on Thursday affirmed the B3 long-term local currency deposit ratings of five top Pakistani banks and changed the outlook to stable from negative. The rating agency in a statement said that affected banks include Allied Bank Limited (ABL), Habib Bank Ltd. (HBL), MCB Bank […]

by Mrs. Anjum Shahnawaz

Moody’s changes Pakistan’s rating to stable from negative

Dec 2

Finance

Moody’s changes Pakistan’s rating to stable from negative

SINGAPORE: Moody’s Investors Service on Monday affirmed Pakistan’s outlook rating to stable from negative. In a statement the Moody’s said that the change in outlook to stable is driven by Moody’s expectations that the balance of payments dynamics will continue to improve, supported by policy adjustments and currency flexibility. Such developments reduce external vulnerability risks, […]

by Mrs. Anjum Shahnawaz

International rating agencies visit Pakistan for annual exercise

Nov 22

Finance

International rating agencies visit Pakistan for annual exercise

ISLAMABAD: International rating agencies Moody’s and Fitch have visited Pakistan for annual credit rating exercise, said a statement issued by ministry of finance on Friday. Details of the visit and the last five-year rating assigned to Pakistan by these two rating agencies is contained in the write-up below: Recent interaction of the Ministry of Finance […]

by Mrs. Anjum Shahnawaz

SECP softens regulatory regime for rating companies

Oct 18

Corporate, Stock & Commodity

SECP softens regulatory regime for rating companies

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has softened regulatory regime for credit rating companies through amendments in the Credit Rating Companies Regulations, 2016. A statement issued on Friday, the SEPC said that Credit Rating Agencies (CRAs) play vital role in development of financial markets and conduct independent, professional and impartial assessment of the […]

by Mrs. Anjum Shahnawaz

May 28

Money & Banking

SBP renews status of credit rating agencies

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 […]

by Faisal Shahnawaz