The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (02-October-2006)
   

PACRA Assigns Entity Ratings to
KASB Securities Limited
 

 
Analyst
Usman Khizer
(+92-42-586 9504)
ukhizer@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 Limited (PACRA) has assigned a long-term rating of “A+” (Single A plus) and a short-term rating of “A1” (A one) to KASB Securities Limited. These ratings indicate a low expectation of credit risk and a strong capacity for timely payment of financial commitments.

The ratings reflect the company’s strong position in the country’s capital market industry, an outcome of its established franchise supported by an advanced technology infrastructure, effective risk management systems and extensive research skills. Meanwhile, the company’s investment banking division, while adding diversity, supplements core revenues. The company’s association with Merrill Lynch – one of the world’s largest investment banking and asset management entities – is also a key rating factor.

About the Company: KASB Securities Limited is a successor to brokerage business started by Mr. Khadim Ali Shah Bukhari (Late) in mid fifties, corporatized in 1991 as Khadim Ali Shah Bukhari & Company Limited. Later on it was merged with KASB Bank Limited (KBL) in 2003 subsequent to its acquisition by KASB group. Simultaneous to the merger, KSL was incorporated as a wholly-owned subsidiary of the bank with transfer of all brokerage related business. KSL, mainly a brokerage house, provides a range of services including investment banking, research, strategic portfolio management and investment consultancy. The current CEO, Mr. Farrukh H. Sabzwari, an MBA, joined the company in Jan 2005 and holds over 14 years of experience in investment banking and broking businesses. A team of experienced professionals backs him. The company continues to focus on its core areas of expertise and has successfully improved the quality of its research products and execution ability while also strengthening its relationship with Merrill Lynch.
 
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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