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The Pakistan Credit Rating Agency Limited
Press Release

Date
09-Oct-18

Analyst
Shahzaib Khalid
shahzaib.khalid@pacra.com
+92-42-35869504
www.pacra.com

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This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA

PACRA Withdraws Entity Ratings of Al-Hoqani Securities & Investment Corporation (Pvt.) Limited

Rating Type Entity
Current
(09-Oct-18 )
Previous
(06-Jun-17 )
Action Withdraw Maintain
Long Term - BB+
Short Term - A3
Outlook - Stable
Rating Watch - -

The management of the company is not interested in continuation of the entity rating of Al-Hoqani Securities and Investments (Pvt.) Ltd. Hence, PACRA withdraws entity ratings [Long Term: BB+, Short Term: A3] of the company with immediate effect.
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About the Entity
Al­Hoqani Securities and Investment Corporation (Pvt.) Limited (established in March, 2005) was owned by Mr. Hoqani (99.9%). Its main activities include advisory services and equity brokerage. Al­Hoqani Securities is a key company for late Mr. Suleiman Ahmed Saeed Al­ Hoqani in Pakistan. Mr. Suleiman passed away on 9th of January, 2017.

The CEO, Mr. Syed Dawar Raza Kazmi has been associated with the company for above six years and is supported by an adequate team. He is an MBA from University of Karachi.

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 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.