The JCR-VIS Credit Rating Company Limited has assigned a 'Preliminary' medium to long-term rating of 'A-' (Single A Minus) with a 'Stable' outlook to the proposed listed, unsecured, subordinated term finance certificate of Saudi Pak Commercial Bank Limited.
JCR-VIS has also re-affirmed the entity rating of the bank at 'A/A 2' (Single A/A Two) with a 'Stable' outlook. The preliminary rating of the issue will be finalised after examination of all signed legal documents.
The term finance certificates, proposed to be issued, will enhance Tier-II (supplementary) capital, thereby supporting the bank's entity ratings as well as facilitating its growth objectives.-PR