PACRA MAINTAINS THE RATINGS OF

ORIX LEASING PAKISTAN LIMITED

 

Lahore: March 31, 2004

The Pakistan Credit Rating Agency (PACRA) has maintained the entity ratings of ORIX Leasing Pakistan Limited (OLP) at ‘AA' (Double A) and ‘A1+' (Single A one plus) for the long-term and short-term, respectively. The entity ratings are applicable to the senior unsecured creditors of the company. The ratings of the secured TFCs (First Tranche: PKR 742mln, Second Tranche: PKR 758mln) are maintained at ‘AA+' (Double A Plus) . These ratings indicate a low expectation of credit risk and a very strong capacity for timely payment of financial commitments.

OLP's ratings reflect sustained market leadership, maintained performance, continuing policy of innovation and product diversification while maintaining good asset quality. The ratings also take into account the implicit support of ORIX Corporation, Japan and the competent professional management team with demonstrated capability of effective management in a difficult operating environment.