JCR-VIS assigned rating to Sindh Modaraba

JCR-VIS has assigned long term and short term credit rating of A+ and A1 respectively to Sindh Modaraba with a stable outlook. Sindh Modaraba, floated in Jan-2015 with a paid-up capital of Rs 450 million, is managed by Sindh Modaraba Management Limited, a company 100% owned by Government of Sindh. The Management Company has recently provided an interest free loan of Rs 500 million to the Modaraba. This will not only support the growth of the Modaraba but will also enable it to distribute higher profits amongst the ordinary certificate holders.
-PR