KARACHI: JCR-VIS Credit Rating Company Limited has placed the management quality rating of `AM3+' (AM-Three Plus) assigned to Primus Investment Management Limited (PIML) under `Rating Watch-Development' status.

The decision was taken on account of the public notice issued by PIML on December 14, 2016, highlighting sale of 70% shareholding by Pak Brunci Investment Company Limited to Army Welfare Trust, subject to regulatory approvals.

The previous rating action was announced on December 31, 2015, said a press release here on Thursday.

Copyright APP (Associated Press of Pakistan), 2016