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The Pakistan Credit Rating Agency Limited
Press Release
Date
05-Nov-18

Analyst
Muhammad Obaid
muhammad.obaid@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 KASB Modarba

Rating Type Entity
Current
(05-Nov-18 ) 		Previous
(29-Jun-18 )
Action Withdraw Downgrade
Long Term - BBB
Short Term - A2
Outlook - Negative
Rating Watch - -

The management of KASB Modaraba is not interested in continuation of the rating process. Hence, PACRA withdraws Entity Ratings [Long Term BBB, Short Term A2] of KASB Modaraba with immediate effect.

About the Entity
KASB Modaraba (KASBM) established in 1990, is a perpetual, multipurpose Modaraba with its head office situated in Karachi. The Modaraba, listed on Pakistan Stock Exchange is primarily engaged in financing through Ijarah, Morabaha, Musharaka, Diminishing Musharaka and Modaraba. Modarba’s management company is KASB Invest (Private) Limited (KIPL).

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.