The Pakistan Credit Rating Agency (Pacra) has assigned a long-term rating of "A+" (A Plus) and a short-term rating of "A1" (A One) to Standard Chartered Leasing Limited (SCLL).
These ratings incorporate the liquidity and funding comfort SCLL is enjoying in the form of preferential credit lines from various financial institutions as well as its own parent at relatively better rates in an era where the whole leasing sector is facing a challenging environment with restricted access to funds.
The ratings reflect SCLL's sound financial profile, a leading market position, robust risk management systems, and a quality management team. At the same time, Pacra recognises the financial strength and international profile of the parent - Standard Chartered Bank (Pakistan) Limited (SCBPL). SCBPL has reaffirmed its support through a recent equity infusion (current ownership: 86.5 percent) along with developing its experienced management team
During FY08 SCLL realigned its organisational structure under focused attention of the Board of Directors to restart its business activities afresh. SCLL's management has devised a comprehensive strategy and intends to further improve its market standing through sustained growth in the targeted segments.-PR