Press Release

JCR-VIS Withdraws Management Quality Rating of PICIC Asset Management Company Limited
 

Karachi, September 5, 2016: With the sanctioning of merger of PICIC Asset Management Company Limited (PICIC AMC) with and into HBL Asset Management Limited by the Securities and Exchange Commission of Pakistan, JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn the Management Quality Rating of ‘AM2’ (AM-Two) assigned to PICIC AMC. The previous rating action was announced on May 4, 2016.

For further information on this rating announcement, please contact the undersigned (Ext: 241) or Mr. Javed Callea (Ext: 234) at 92-21-35311861 or fax to 92-21-35311873.


Mohammed Khalid Ali
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 2016 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