AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, August 18, 2023 (PPI-OT): VIS Credit Rating Company Limited has issued a new Rating Scale https://docs.vis.com.pk/docs/VISRatingScales.pdf for hybrid Tier-1 and Tier-2 capital instruments issued by Banks, under Basel III guidelines as implemented by SBP. The rating scale captures the peculiar characteristics of the hybrid instruments in relation to their conversion/write down features. Accordingly, the ratings of outstanding Tier-2, TFC-1 and TFC-2 of Khushhali Microfinance Bank Limited (KMBL) have been harmonized at ‘B’ (Single B).
Assigned instrument rating of ‘B’ denotes that payments are not being made as per original schedule. Future performance is less likely. Outlook on the instrument ratings has been placed on ‘Rating Watch-Negative’. Previous rating action was announced on April 28, 2023.
For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/
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