The Pakistan Credit Rating Agency (PACRA) has maintained the long-term entity rating of KASB Leasing Limited (KLL) at 'BBB+' (Triple B plus), and the short-term rating has been maintained at 'A2' (A Two).
These ratings are applicable to senior unsecured creditors, denoting a low expectation of credit risk, and an adequate capacity for timely payment of financial commitments.
The rating of the secured TFC issue worth Rs 200 million has been maintained at 'A-' (single A minus).
This rating denotes a low expectation of credit risk, and a strong capacity for timely payment of financial commitments.
The assigned ratings reflect an improvement in the company's performance from core operations.
While there has been an increase in the proportion of the impaired portfolio, this had no material impact on the company's risk absorption capacity owing to an adequate capital structure.
The ratings are placed on Rating Watch due to the upcoming merger of KLL with the KASB Bank.
Comments
Comments are closed.