The status of ratings placed on 'Rating Watch', JCR-VIS has started appending a direction 'Positive, Negative or Developing' to all its Rating Watch indications.
The ratings of A (Single-A) assigned by JCR-VIS to the second and third tranches of Union Bank Limited's (UNBL) subordinated, unsecured term finance certificates had been placed on a 'Rating Watch' on May 29, 2006 following the proposed acquisition of UNBL's shares by Standard Chartered Bank and the expected amalgamation of Standard Chartered bank - Pakistan Branches with UNBL.-PR