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The Pakistan Credit Rating Agency Limited
Press Release

Date
19-Oct-18

Analyst
Muhammad Nadeem Sheikh
nadeem.sheikh@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

NRSP Microfinance Bank Limited Redeems Privately Placed TFC | Jun-16; PACRA Withdraws Instrument Rating

Rating Type Debt Instrument
Current
(19-Oct-18 )
Previous
(30-Apr-18 )
Action Withdraw Maintain
Long Term A A
Short Term - -
Outlook Stable
Rating Watch - -

NRSP Microfinance Bank Limited issued a secured, privately placed Term Finance Certificate (TFC) of PKR 3bln in June-16 for a tenor of 2 years. The Instrument due for final redemption on 30-June-18 has been fully redeemed. PACRA withdraws the Instrument Rating with immediate effect.

About the Entity

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.