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KARACHI: VIS Credit Rating Company Limited announces an ‘Agreement of Cooperation’ (AoC) executed between the China Chengxin International Credit Rating Co. Ltd (CCXI), Peoples Republic of China, China Chengxin (Asia Pacific) Credit Rating Co. Ltd. (CCXAP), Hong Kong China – a wholly owned subsidiary of CCXI, Islamic International Rating Agency (IIRA), Kingdom of Bahrain and VIS Credit Rating Co. Ltd., (VIS), Islamic Republic of Pakistan.

The AoC envisages to jointly promote credit ratings and capital market research in OIC markets and countries included in the Belt and Road Initiative. These ratings will facilitate potential issuers in these markets to raise international funds for infrastructure development and deepening of the sukuk/bond markets.

With the signing of the AoC, the collaborating agencies have also launched the “Country Risk Report Along the Belt and Road, 2022”, which can be accessed on the agencies’ respective websites.

Copyright Business Recorder, 2023

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