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Tag: credit rating

Fitch revises Pakistan’s outlook to negative
Jul 19
Finance, Top stories

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 […]

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SBP renews status of credit rating agencies State Bank of Pakistan
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 […]

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Meezan Bank’s credit rating upgraded
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 […]

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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 […]

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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, […]

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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 […]

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SBP renews status of credit rating agencies
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 […]

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