KARACHI: The State Bank of Pakistan (SBP) has renewed the status of two credit rating agencies as eligible External Credit Assessment Institutions (ECAIs).

The SBP has renewed the status of both credit rating agencies operating in Pakistan namely “VIS Credit Rating Company Limited (VIS)” and “The Pakistan Credit Rating Agency Limited (Pacra)” as eligible/recognised External Credit Assessment Institutions for the calendar year 2022.

The banks and DFIs using the standardised approach of Basel framework are allowed to use credit ratings assigned by VIS and Pacra for CAR calculation purposes.

Copyright Business Recorder, 2022