The Pakistan Credit Rating Agency Limited
24-Mar-23
Analyst
Muhammad Noor Ul Haq
noorulhaq@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jun-22
- Methodology | Rating Modifiers | Jun-22
- Methodology | Non-Banking Finance Companies Rating | Jun-22
Related Research
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PACRA Withdraws Entity Ratings of SME Leasing Limited
| Rating Type | Entity | |
|
Current (24-Mar-23 ) |
Previous (06-Apr-22 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | B- |
| Short Term | - | A4 |
| Outlook | Negative | |
| Rating Watch | - | Yes |
Subsequent to management's decision to discontinue the entity ratings of SME Leasing Limited,
PACRA withdraws the entity ratings of SME Leasing Limited.
About
the Entity
SME Leasing Limited, a non-deposit taking leasing company in Pakistan, commenced Operations in 2002. SLL's major shareholder (~73%), is SME Bank Limited. SLL has obtained a license of non-deposit taking NBFC from SECP. The board incorporates a good mix of non–executive and independent members. It also has nominee directors of SMEBL. The leadership of Company has been taken over by Mr. Asghar Maqsood as its Chief Executive Officer. He is assisted by a team of professionals.