JCR-VIS has reaffirmed unsolicited rating of 'AA (p)' to Orix Leasing Co In 2003, JCR-VIS Credit Rating Company Ltd (JCR-VIS) had initiated assigning unsolicited ratings to key market players.
This approach is in line with the long-established practice of global credit rating agencies of providing credit information that is of benefit to investors. Unsolicited ratings are based on public information. Therefore, a rating category is assigned to the institution and is followed by 'p' subscript denoting public information. The assigned rating is not modified by a plus (+) or a minus (-) sign and thereby does not specify the relative credit standing within a rating category. Outlook is not assigned to these ratings.
JCR-VIS has reaffirmed the unsolicited rating of 'AA (p)' (Double A rating category) assigned to Orix Leasing Pakistan Limited (OLPL). OLPL has continued to exhibit robust growth over the last one and a half years, which has been fuelled through borrowings, resulting in increasing leverage. Given the recent growth trends, leverage is likely to increase further, though parent support may be forthcoming when required.