Press Release

JCR-VIS Withdraws Instrument Rating of Askari Bank Limited
 

Karachi, July 09, 2018: JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn instrument rating of ‘AA-’ (Double A Minus) assigned to Askari Bank Limited’s (AKBL) - 4th (fourth) Issue of Term Finance Certificate (TFC-IV) - with immediate effect. The bank exercised the inbuilt Call Option with early redemption of the said instrument after approval from the State Bank of Pakistan.

For further information on this rating announcement, please contact the undersigned at 021-35311861-70 or Mr. Maimoon Rasheed at 042-35723411-13.



Atiq Anwar Mahmudi
Advisor

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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