The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (30-November-2005)
    PACRA Places Ratings of Dawood Bank Limited and Atlas Investment Bank Limited on Rating Watch
 

 
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.

  

Reports regarding the acquisition of majority shareholding of Dawood Bank Limited by the Atlas Group have been confirmed. Following this development, PACRA has placed ratings of both Dawood Bank Limited and Atlas Investment Bank Limited on rating watch.

This would be followed by a detailed review of the implications of this acquisition, particularly with reference to reported plans of merger of Dawood Bank Limited with Atlas Investment Bank Limited. At this stage, there is no change in the ratings of the two institutions which currently stand at ‘A+’ and ‘A1’ for Atlas Investment Bank; and ‘BBB-‘ and ‘A3’ for Dawood Bank.
 
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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