Credit rating of First Paramount Modaraba

Karachi: First Paramount Modaraba informed Karachi Stock Exchange JCR-VIS Credit Rating Company Limited has reaffirmed rating of the company at “BBB/A-3’ (triple B/A-three). The previous rating action was announced on December 26, 2014.

First Paramount Modaraba is a multi-purpose, perpetual and multi-dimensional Modaraba floated under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and the rules framed there under. It is managed by Paramount Investments Limited, a company incorporated in Pakistan. Modaraba’s principal activities includes deployment of funds on murabaha and musharika arrangements and its In-house ventures are Generator rental and sale project under the name “Advance Trading Corporation”, Weaving business under the name of “FPM Weaving” and Electrical maintenance and troubleshooting services’ business under the name of “FPM Solutions”. The stocks of the company are quoted on the Karachi and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.

The symbol “FPRM” is being used by the stock exchange for the shares of First Paramount Modaraba.