PACRA
PLACES
NATIONAL DEVELOPMENT LEASING CORPORATION (NDLC)
RATINGS ON RATINGWATCH
Lahore: April 17, 2003
Following the
recent decision of NDLC management to amalgamate with the local operations
of a foreign commercial bank and thereby the change of status of the company
to a commercial bank, NDLC's ratings are placed on RatingWatch. Currently,
these ratings are :
| Rating |
Long-Term
|
Short-Term
|
| Entity |
A
|
A1
|
| TFCs |
A+
|
---
|
On completion
of the process, PACRA would review the ratings. Meanwhile, in PACRA's perception,
no negative connotation is associated with the impending change.