JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of United Bank Limited (UBL) to AA/ A-1+ (Double A/ A-One Plus). The ratings of unsecured, subordinated TFC-1 and TFC-2 and have also been reaffirmed at AA- (Double A Minus).
JCR-VIS has assigned a preliminary medium to long term rating of AA- (Double A Minus) to the proposed 'third' issue of unsecured, subordinated Term Finance Certificate of Rs 2 billion. The outlook on ratings is 'Stable'.
The credit ratings of National Bank of Pakistan Limited (NBP) has been reaffirmed at 'AAA/A-1+' with a 'Stable' outlook. The stand-alone ratings of the bank have also been reaffirmed at 'AA+/A-1+' (Double A Plus / A One Plus) with a 'Stable' outlook.
JCR-VIS has upgraded the Insurer Financial Strength (IFS) rating of PICIC Insurance Limited (PIL) from BBB+ (Triple B Plus) to 'A-' (Single A Minus). The outlook on the assigned rating is 'Stable'.
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