ISLAMABAD: The Pakistan Credit Rating Agency (Pacra) has maintained the long term and short term entity ratings of Pakistan Microfinance Investment Company (PMIC) at ‘AA’ (Double A) and ‘A1+’ (A One Plus) respectively. The rating reflects strong equity base, well-conceived business plans and strong ownership structure.
The ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments which is not significantly vulnerable to foreseeable events.
PMIC, incorporated in 2016, is licenced to carry out investment finance services as a Non- Banking Finance Company (NBFC) under the NBFC Rules, 2003 and NBFC Regulations 2008. The strong sponsors, Pakistan Poverty Alleviation Fund (49%), Karandaaz (38%) and KfW, a German development Bank (13%) strengthen the financial profile of PMIC.
Copyright Business Recorder, 2023
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