The Pakistan Credit Rating Agency (PACRA) has upgraded the long-term entity rating of PKIC to "AAA" (Triple A), while maintaining the short-term ratting at "A1+" (A one plus), the highest level. These ratings denote the lowest expectation of credit risk emanating from an exceptionally strong capacity for timely payment of financial commitments.
The ratings reflect the joint ownership of PKIC by the Government of Pakistan and Kuwait, implying strong sponsor support. At the same time, the ratings recognise robust financial profile of the company, an outcome of its sound capital structure, diversified strategic investments and conservative landing stance, PKIC's key core investments are well established companies in their respective fields mainly Islamic banking and asset management - and offers significant gains. Although PKIC's traditional dependence on stock market exposes its earning to market risk, the management is carefully developing a stable interest-based earning stream.-PR