PACRA NOTIFIES RATING UPDATE ON

NATIONAL DEVELOPMENT LEASING CORPORATION LTD (NDLC)

 

Lahore: December 02, 2002

 

The Pakistan Credit Rating Agency (PACRA) has notified the long-term rating of National Development Leasing Corporation (NDLC) at 'A' (Single A), and the short-term rating at 'A1' (A one). The rating of the secured TFC is notified at 'A+' (A plus). These ratings indicate a low expectation of credit risk and a strong capacity for timely payment of financial commitments. The ratings recognise the size of the company and its large equity base. At the same time, the overhang of the non-performing portfolio could impact negatively on the otherwise comfortable risk absorption capacity of the company.