Press Release

JCR-VIS Reaffirms Fund Stability Rating of ABL Cash Fund at ‘AA (f)’

Karachi, January 16, 2018: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Cash Fund (ABL CF) at ‘AA(f)’ (Double A(f)). Previous rating action was announced on 30th December 2016.

Established in July’2010, ABL Cash Fund operates as an open end money market fund. Credit quality of the fund has remained in line with set limits with no allocation of funds to below ‘AA’ rated entities. The fund has also remained compliant with weighted average maturity (WAM) limits. Liquidity profile of the fund is supported by high proprtion of total assets in cash.

Net assets of the fund amounted to Rs. 7.6b at end FY17 (FY16: Rs. 2.6b); while retail portion of the fund has significantly decreased by end-FY17.

For further information on this rating announcement, please contact the undersigned at 021-35311861-70 or Maimoon Rasheed at 042-35723411 or fax to 021-35311872.

Jamal Abbas Zaidi

Applicable Rating Criteria: Fund Stability Ratings (December 2017)

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 2018 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