JCR-VIS Credit Rating Company has reaffirmed the medium to long-term entity rating of Pak-Gulf Leasing Company Ltd (PGL) at 'BBB+' (triple B plus) with 'stable' outlook and the short-term rating at 'A-2' (A two).
Ratings incorporate the institution's ability to grow along with the sector, although it still has limited market share and a relatively small resource base.
PGL has maintained a good quality lease portfolio, achieved through diversification of exposures and strong underwriting procedures. Further, with its low debt leverage, it has adequate capacity to access the debt market for further growth.