Categorie: IPO / Secondary Offering
Submitted 6 months ago by
Xpertwriter
, CEO At E-HostingJunction.com
at Spectrum Resumes , Inc
The Pakistan Credit Ruling Agency (Pacra) has assigned the long-term and short-term entity ratings at 'AA' (Double A) and 'A1+' (A One Plus), respectively, to ABN Amro Bank (Pakistan) Limited (AABPL), formerly Prime Commercial Bank Limited (PCBL), says a press release.Meanwhile, the unsecured subordinated TFCs issue of Rs 800 million has been assigned a rating of 'AA-' (Double A Minus). These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.The rating of AABPL reflect its strengthened position in the local banking industry following the amalgamation of AABPL branches into PCBL. Meanwhile, the very strong profile of the new parent - Royal Bank of Scotland Group (RBSG) - remains a key rating factor.While aiming to expedite the ongoing consolidation process, the management targets to leverage the expanded outreach and presence to make further inroads into the target markets. However, the extent to which the management would be successful in capitalising on identified potential and RBSG's steadfastness in this regard remain to be seen.The ratings are dependent on the bank's ability to timely execute its business strategy while effectively managing associated risks. Meanwhile, continued patronage and support from the parent bank would remain critical for the ratings
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Submitted 6 months ago by
Xpertwriter
, CEO At E-HostingJunction.com
at Spectrum Resumes , Inc
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