JCR-VIS reaffirms entity ratings of ZTBL

KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Zarai Tarqiati Bank Limited at triple A/one plus.  The rating agency has also reaffirmed the same ratings assigned to Government Guaranteed Obligation of ZTBL, says release here on Tuesday.

The outlook on the ratings is stable. The previous rating action was announced on June 16, 2014.

The ratings assigned to ZTBL take into account the implicit support of its sovereign sponsor; Government of Pakistan, which is the primary shareholder of the bank.

The ratings also recognize the importance of ZTBL in the overall ecosystem of the country as the bank remains the premier agriculture sector development financial institution which is used as the financing arm by the Government of Pakistan.