Press Release

JCR-VIS places MQ Rating of Pak Oman Asset Management Company Limited under ‘Rating Watch’
 

Karachi, July 15, 2013: JCR-VIS Credit Rating Company Limited (JCR-VIS) has placed the Management Quality Rating of ‘AM3-’ (AM-Three Minus) assigned to Pak-Oman Asset Management Company Limited (POAMCL), under ‘Rating Watch Developing’ status.

The rating action has been taken in view of the approval of Scheme of Arrangement for merger/amalgamation of POAMCL with and into AKD Investment Management Limited (AKDIML) by the Board of Directors of POAMCL, subject to no objection and sanction by the Securities and Exchange Commission of Pakistan. Progress in this regard will be actively tracked by JCR-VIS.

For further information on this rating announcement, please contact Mr. Javed Callea (Ext: 501) or Ms. Sobia Maqbool, CFA (Ext: 604) at 35311861-70 or fax to 35311872-3.



Jamal Abbas Zaidi
Deputy CEO

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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 2013 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