JCR-VIS Withdraws Ratings Of First National Bank Modaraba

Mohammad Ali (@ChaudhryMAli88) Published September 29, 2017 | 08:55 PM

JCR-VIS Withdraws Ratings of First National Bank Modaraba

JCR-VIS Credit Rating Limited (JCR- VIS) has withdrawn entity rating of BBB+/A-3 (Triple B Plus/A-Three) assigned to First National Bank Modaraba (FNBM) with immediate effect

KARACHI, Sept 29 (UrduPoint / Pakistan Point News - 29th Sep, 2017 ) : JCR-VIS Credit Rating Limited (JCR- VIS) has withdrawn entity rating of BBB+/A-3 (Triple B Plus/A-Three) assigned to First National Bank Modaraba (FNBM) with immediate effect, on account of non-renewal of the rating contract.

Previous rating was announced on May 3, 2017, in which it was placed on 'Rating Watch-Negative' in view of board's decision to cease the lending operations of the modaraba.

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