Press Release

JCR-VIS Suspends Ratings of RFJ Equity (Pvt.) Limited

Karachi, November 2, 2017: JCR-VIS Credit Rating Company Limited (JCR-VIS) has suspended the entity ratings of ‘BB/A-3’ (Double B/A-Three) assigned to RFJ Equity (Pvt.) Limited (REL) with immediate effect. Previous rating action was announced on March 7, 2017.

The suspension of rating is on account of a regulatory action whereby operations of the company have been ceased. The company has appealed against the regulatory decision. Ratings will be re-assessed upon outcome of the appeal.

For further information on this rating announcement, please contact the undersigned (Ext: 207) or Mr. Javed Callea (Ext: 201) at 92-21-35311861 or fax to 92-21-35311873.

Jamal Abbas Zaidi

Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. JCR-VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2017 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited