NBP Capital Fund ratings reaffirmed

JCR-VIS has reaffirmed the medium to long term rating of NBP Capital Limited at 'A-' (Single A Minus) with 'Stable' outlook. Short-term rating has also been reaffirmed at 'A 1' (A One).
The risk profile of the company remains conservative. NBP Capital Limited is well capitalised, exhibiting increasing use of leverage for its expanding scale of operations. The company has consistently remained profitable, though this year earnings declined in the face of the falling mark-up rate environment.
The management envisages diversification into new revenue generating avenues over the short and medium to long term, which should have a positive impact on its future earnings. JCR-VIS will continue to track progress in this regard.