|
Publicly
Notified Active Ratings by JCR-VIS Credit Rating
Company Limited
|
| Issue/Issuer |
|
Medium
to Long Term |
Outlook |
Short
Term |
|
Entity
Ratings
|
| AlBaraka
Islamic Bank BSC - Pakistan Branches |
|
A |
Stable |
A-1 |
| Allied
Bank Ltd. |
|
A |
Stable |
A-1 |
| Al-Zamin
Leasing Modaraba |
|
BBB+ |
Stable |
A-2 |
| Associated
Constructors Ltd. |
|
BBB- |
Stable |
A-3 |
| B.R.R.
International Modaraba |
|
A- |
Stable |
A-2 |
| Bolan
Bank Ltd. |
|
BBB |
Stable |
A-2 |
| Coronet
Foods (Pvt.) Ltd. |
|
A+ |
Stable |
A-1 |
| Crescent
Commercial Bank Ltd. |
|
BBB+ |
Negative |
A-2 |
| Crescent
Standard Investment Bank Ltd. |
|
BBB+ |
Stable |
A-2 |
| Crescent
Steel & Allied Products Ltd. |
|
A+ |
Stable |
A-1 |
| Crescent
Leasing Corporation Ltd. |
|
A+ |
Stable |
A-1 |
| Dewan
Salman Fibre Ltd. |
|
A |
Stable |
A-2 |
| English
Biscuit Manufacturers Ltd. |
|
A+ |
Stable |
A-1 |
| Escorts
Investment Bank Ltd. |
|
A |
Stable |
A-2 |
| Faysal
Bank Ltd. |
|
AA |
Stable |
A-1 |
| First
Credit & Discount Corporation Ltd. |
|
BBB+ |
Stable |
A-2 |
| First
Habib Bank Modaraba |
|
AA- |
Positive |
A-1+ |
| First
Islamic Modaraba |
|
BB+ |
Rating
Watch |
A-3 |
| First
National Bank Modaraba |
|
A- |
Positive |
A-2 |
| First
Paramount Modaraba |
|
BBB- |
Stable |
A-3 |
| Grays
Leasing Ltd. |
|
BBB+ |
Positive |
A-2 |
| Habib
Bank AG Zurich
- Pakistan Branches. |
|
AA+ |
Stable |
A-1+ |
| Habib
Bank Ltd. |
|
AA |
Stable |
A-1+ |
| Hira
Textile Mills Ltd. |
|
BBB+ |
Stable |
A-3 |
| Indus
Dyeing and Manufacturing Co Ltd. |
|
A |
Stable |
A-2 |
| International
Housing Finance Ltd. |
|
BBB+ |
Positive |
A-3 |
| Ittehad
Chemicals Ltd. |
|
A- |
Stable |
A-1 |
| Jamshoro
Joint Venture Ltd. |
|
BBB+ |
Stable |
A-3 |
| Javed
Omer Vohra & Company Ltd. |
|
A |
Rating
Watch |
A-1 |
| Kashf
Foundation |
|
BBB |
Stable |
A-3 |
| Khushhali
Bank |
|
A- |
Positive |
A-1 |
| Kunjah
Textile Mills Ltd. |
|
BBB- |
Stable |
A-3 |
| Meezan
Bank Ltd. |
|
A+ |
Stable |
A-1 |
| MIMA
Leather (Pvt) Ltd. |
|
BBB- |
Stable |
A-3 |
| National
Bank of Pakistan. |
|
AAA/(AA+)* |
Stable |
A-1+/(A-1+)* |
| National
Foods Ltd |
|
A+ |
Stable |
A-2 |
| Natover
Lease & Refinance Ltd. |
|
BBB- |
Stable |
A-3 |
| NBP
Capital Ltd. |
|
A |
Stable |
A-1 |
| Oman
Intl Bank SAOG - Pakistan Branches |
|
BBB |
Rating
Watch |
A-2 |
| Orient
Petroleum Inc. - Pakistan Branch |
|
A |
Stable |
A-1 |
| ORIX
Leasing Pakistan Ltd. |
(Public
Inf Rating) |
AA(p) |
-- |
-- |
| Pak
Gulf Leasing Company Ltd. |
|
BBB+ |
Stable |
A-2 |
| Pak
Oman Investmant Company Ltd. |
|
AA+ |
Stable |
A-1+ |
| Pakistan
Kuwait Investment Co. (Pvt.) Ltd. |
|
AAA |
Stable |
A-1+ |
| Pakistan
Security Printing Corporation (Pvt.) Ltd |
|
AAA |
Stable |
A-1+ |
| Pakistan
Steel Mills Corporation (Pvt) Ltd. |
|
A |
Stable |
A-1 |
| PICIC
Commercial Bank Ltd. |
|
A+ |
Rating
Watch |
A-1 |
| Ranipur
Sugar Mills (Pvt.) Ltd. |
|
BBB- |
Stable |
A-3 |
| Reliance
Weaving Mills Ltd. |
|
BBB+ |
Stable |
A-3 |
| Saif
Textile Mills Ltd. |
|
A- |
Rating
Watch |
A-2 |
| Sapphire
Textile Mills Ltd. |
|
A |
Stable |
A-2 |
| Saudi
Pak Commercial Bank Ltd. |
|
BBB |
Stable |
A-2 |
| Saudi
Pak Ind & Agricultural Inv Co (Pvt.) Ltd |
|
AA+ |
Stable |
A-1+ |
| Saudi
Pak Insurance Company Ltd. |
|
BBB+ |
Stable |
-- |
| Saudi
Pak Leasing Company Ltd. |
|
A- |
Stable |
A-2 |
| Security
Investment Bank Ltd. |
|
A |
Stable |
A-1 |
| Security
Leasing Corporation Ltd. |
|
A |
Stable |
A-1 |
| Security
Papers Ltd. |
|
AAA |
Stable |
A-1+ |
| Shakarganj
Mills Ltd. |
|
A- |
Stable |
A-2 |
| Sigma
Leasing Corporation Ltd. |
|
BBB+ |
Positive |
A-2 |
| SME
Bank Ltd. |
|
BBB |
Stable |
A-2 |
| SME
Leasing Ltd. |
|
BBB+ |
Stable |
A-2 |
| Suraj
Cotton Mills Ltd. |
|
A |
Stable |
A-2 |
| Tauras
Securities Ltd. |
|
A- |
Stable |
A-2 |
| The
Bank of Khyber. |
|
BBB |
Stable |
A-2 |
| The
Bank of Punjab |
|
AA- |
Stable |
A-1 |
| The
First MicroFinanceBank Ltd |
|
A+ |
Stable |
A-1+ |
| The
Punjab Provincial Co-operative Bank Ltd. |
|
BB+ |
Stable |
A-3 |
| Union
Bank Ltd. |
|
A+ |
Stable |
A-1 |
| Union
Leasing Ltd. |
(Public
Inf Rating) |
A(p) |
-- |
-- |
| United
Bank Ltd. |
|
AA |
Stable |
A-1+ |
| Zarai
Taraqiati Bank Ltd. |
|
AAA/(BB+)* |
Stable |
A-1+/(A-3)* |
| *
The ratings in parantheses show the standalone
ratings assigned by JCR-VIS, without incorporating
the effect of the sovereign guarantee, as laid out
in the Banks Nationalization Act of 1974. |
|
Insurer
Financial Strength Ratings
|
| Adamjee
Insurance Company Ltd. |
|
AA- |
Stable |
-- |
| Alpha
Insurance Co. Ltd. |
|
BBB+ |
Stable |
-- |
| Capital
Insurance Company Ltd. |
|
BB+ |
Stable |
-- |
| Central
Insurance Company Ltd. |
|
A |
Stable |
-- |
| Century
Insurance Company Ltd. |
|
A |
Stable |
-- |
| East
West Insurance Co. Ltd. |
|
BB |
Stable |
-- |
| EFU
General Insurance Ltd. |
|
AA |
Stable |
-- |
| Excel
Insurance Company Ltd. |
|
BB |
Positive |
-- |
| National
Insurance Company Ltd. |
|
AA+ |
Stable |
-- |
| New
Jubilee Insurance Company Ltd. |
|
AA |
Stable |
-- |
| PICIC
Insurance Ltd. |
|
BBB+ |
Stable |
-- |
| Premier
Insurance Company of Pakistan Ltd. |
|
A |
Stable |
|
| Reliance
Insurance Company Ltd. |
|
BBB+ |
Stable |
-- |
| Security
General Insurance Company Ltd. |
|
A |
Stable |
-- |
| The
Cooperative Insurance Soc of Pak Ltd |
|
B |
Stable |
-- |
| The
Crescent Star Insurance Co. Ltd. |
|
BBB |
Stable |
-- |
| The
Pakistan General Insurance Co. Ltd |
|
B |
Stable |
-- |
| The
Universal Insurance Company Ltd. |
|
BBB+ |
Stable |
-- |
| TFC
Ratings |
Maturity |
|
|
|
| Al-Noor
Sugar Mills Ltd. |
Aug
2007 |
A- |
Stable |
-- |
| Al-Noor
Sugar Mills Ltd. |
(**) |
A- |
Stable |
-- |
| Al-Zamin
Leasing Modaraba |
Dec
2008 |
A- |
Stable |
-- |
| Al-Zamin
Leasing Modaraba |
(**) |
A- |
Stable |
-- |
| Azqard
Nine Ltd. |
Sep
2012 |
A+ |
Stable |
|
| Crescent
Standard Investment Bank Ltd. |
Jul
2007 |
A- |
Stable |
-- |
| Crescent
Standard Investment Bank Ltd. |
(**) |
A- |
Stable |
-- |
| Crescent
Steel & Allied Products Ltd. |
Jan
2009 |
AA- |
Stable |
-- |
| Crescent
Leasing Corporation Ltd. |
Perpetual |
AA- |
Stable |
|
| Crescent
Leasing Corporation Ltd. |
Jul
2008 |
AA- |
Stable |
-- |
| Hira
Textile Mills Ltd. |
Mar
2010 |
A |
Stable |
-- |
| Ittehad
Chemicals Ltd. |
Jun
2008 |
A |
Stable |
-- |
| Pakistan
Services Ltd. |
Nov
2008 |
A- |
Stable |
-- |
| Pharmagen
Ltd. |
Oct
2008 |
A- |
Stable |
-- |
| Reliance
Weaving Mills Ltd. |
Feb
2007 |
A- |
Stable |
-- |
| Shakarganj
Mills Ltd. |
Sep
2006 |
A |
Stable |
-- |
| Sitara
Chemical Industries Ltd. |
Jun
2007 |
AA- |
Stable |
-- |
| Searle
Pakistan Ltd |
(**) |
A- |
Stable |
|
| Telecard
Ltd |
Mar
2011 |
A |
Stable |
-- |
| Union
Bank Ltd. |
Dec
2012 |
A |
Stable |
-- |
| United
Bank Ltd. |
Aug
2012 |
AA- |
Stable |
-- |
| United
Bank Ltd. |
Mar
2013 |
AA- |
Stable |
-- |
| **
These are preliminary/final ratings.
The TFCs have not yet been issued. |
|
|
|
|
|
| Securitization
Ratings |
Maturity |
|
|
|
| Development
Securitization Trust |
Feb
2007 |
BBB- |
Stable |
-- |
| First
Oil & Gas Securitisation Company Ltd. |
Dec
2006 |
A |
Stable |
-- |
| Jamshoro
Joint Venture Ltd. |
Mar
2010 |
A- |
Stable |
-- |
| Naimat
Basal Oil & Gas Securitisation Co Ltd |
Apr
2010 |
A+ |
Stable |
-- |
|
Mutual
Fund Ratings
|
| National
Investment Trust Ltd. |
(Mgmt
Qlty Rating) |
AA(MQ) |
Rating
Watch |
-- |
| National
Investment Unit Trust |
(MF
Perf Ranking) |
MFR-4(s) |
-- |
-- |
| Arif
Habib Investment Management Ltd. |
(Mgmt
Qlty Rating) |
AA(MQ) |
-- |
-- |
| Pakistan
Stock Market Fund |
(MF
Perf Ranking) |
MFR-5(s) |
-- |
-- |
| United
Asset Management Company Ltd. |
(Mgmt
Qlty Rating) |
A(MQ) |
-- |
-- |
| United
Money Market Fund |
(MF
Perf Rating) |
A+(f) |
-- |
-- |
|
Corportate
Governance Ratings
|
| Pakistan
Kuwait Investment Co (Pvt.) Ltd. |
|
CGR-9 |
-- |
-- |
| Pak
Oman Investment Co. Ltd. |
|
CGR-9 |
-- |
-- |
| Security
Papers Ltd. |
|
CGR-8 |
-- |
-- |
| The
Citizens Foundation |
(NPO
Gov Rating) |
GR-8 |
-- |
-- |
| Note:
All ratings are as of September 30, 2005, the
ratings of JCR-VIS are subject to change because
of possible time lapse between the given date and
your uses of this publication.
For the latest ratings and other details
visit the web site of JCR-VIS: www.jcrvis.com.pk |
