KARACHI: JCR-VIS Credit Rating Company Limited has placed the management quality rating of `AM3+' (AM-Three Plus) assigned to Primus Investment Management Limited (PIML) under `Rating Watch-Development' status.
The decision was taken on account of the public notice issued by PIML on December 14, 2016, highlighting sale of 70% shareholding by Pak Brunci Investment Company Limited to Army Welfare Trust, subject to regulatory approvals.
The previous rating action was announced on December 31, 2015, said a press release here on Thursday.
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