The Pakistan Credit Rating Agency (PCRA) has maintained its long-term and short-term rating of Pak-Libya Holding Company (PLHLC) at AA- and AI+ respectively, company secretary, Abid Aziz, said in a statement here on Monday. He said rating denoted a very low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments.
He said the ratings reflected PLHLC's sustained strong risk absorption capacity stemmed from augmenting equity base and relatively low risk profile of the asset portfolio.
He said, "While PLHC has launched several initiatives to enhance the return on financing and price increase in fee-based income, the profitability is likely to increase in the future."
PLHC is one of the leading financial institutions of Pakistan engaged in a variety of financial services and catering the need of industrial, business and consumer sector. Its investment and financing operations cover both fund and non-fund based activities which includes project financing, consumer banking, equity participation, lease financing capital market operations, treasury operations, issuance of guarantees, underwriting of public issues and corporate finance advisory service.
Aziz said that the recent removal of international sanctions from Libya would open new avenues for tapping resources and business opportunities by way of joint ventures between Pakistan and Libya and PLHC can play a leading role in the economic/strategic relations between the two countries.
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