The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (19-October-2005)
    PACRA Maintains Entity Ratings of Investment Corporation of Pakistan (ICP)
 

 
Analyst
Shahzad Saleem
(+92-42-586 9504)
shahzad@pacra.com

 

 

 





 

 

 



Disclaimer
This press release is transmitted to you for this sole purpose of dissemination through your newspaper/magazine/agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to PACRA. However, PACRA has the sole right of distribution of its press releases for consideration or otherwise through any media.

  

The Pakistan Credit Rating Agency (PACRA) has maintained the long-term entity rating of ICP at “AA” (Double A) and the short-term rating at “A1+” (A one plus). These ratings denote a very low expectation of credit risk and a very strong capacity for timely payment of financial commitments.

ICP’s ratings reflect its very strong financial profile emanating from its pre-dominantly equity based balance sheet structure and full settlement of contractual obligations towards all creditors. The Government has decided to wind-up ICP and the Privatization Commission is working on this mandate. PACRA is, therefore, assigning the ratings with the assumption that until the winding up process is completed ICP will continue its limited operations and not venture into any activity that could enhance the risk exposure.
 
The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity.

PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings.

PACRA's opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.

 

    
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