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The Pakistan Credit Rating Agency Limited (Pacra) has maintained the long-term rating of "A+" (Single A plus) and the short-term rating of "A1" (A one) of KASB Securities Limited. These ratings indicate a low expectation of credit risk and a strong capacity for timely payment of financial commitments.
The proposed secured TFC issue of 500 million rupees is assigned a rating of 'AA-' (Double A minus). This rating denotes a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.
The ratings reflect the company's strong position in the country's capital market industry, an outcome of its established franchise supported by an advanced technology infrastructure, effective risk management systems and extensive research skills.
Meanwhile, the company's investment banking division, while adding diversity, supplements core revenues. The company's association with Merril1 Lynch - one of the world's largest investment banking and asset management entities - is also a key rating factor.-PR

Copyright Business Recorder, 2007

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