Escorts Investment Bank's ratings reaffirmed at A/A-1

JCR-VIS Credit Rating Company Ltd has reaffirmed the entity ratings of Escorts Investment Bank Limited (EIBL) at 'A/A-1' (Single A/A-One) and the TFC rating at 'A+' (Single A Plus). Outlook on the medium to long-term rating is 'Stable'. With weakening macroeconomic indicators, the operating environment has become exceedingly challenging for secondary market borrowers.
Business activities at EIBL slowed down and total assets reduced by 42 percent subsequent to FY08. This has impacted the bank's earnings profile, as reflected in the results for 1Q09.-PR