The Pakistan Credit Rating Agency (PACRA) has maintained the entity ratings of Standard Chartered Modaraba (SCM) at “AA+” (Double A plus) and “A1+” (A one plus) for the long-term and short-term, respectively. The ratings indicate low expectation of credit risk and very strong capacity for timely payment of financial commitments.

The ratings reflect SCM ’s strong capital structure and consistently very low risk profile. The ratings also factor in the Modaraba’s strong brand recognition that is reinforced by the management’s proactive approach towards business. At the same time, the strong support factor drawn from SCM’s affiliation with the Standard Chartered Group in Pakistan (SC) remains a key rating factor.

About the Modaraba: Established in 1987, SCM is a perpetual, multi-purpose Modaraba, listed on the Karachi and Lahore stock exchanges. Standard Chartered Services of Pakistan (Pvt.) Ltd – a wholly owned subsidiary of Standard Chartered Bank – manages the Modaraba. Standard Chartered Bank, incorporated in England with limited liability by Royal Charter 1853, is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong. It carries a long-term rating of “A+” by Fitch Ratings. In Pakistan, it is the largest foreign bank with 44 branches nationwide including three Islamic banking branches.