VIS Assigns Initial Entity Ratings To Security Investment Bank Limited

Faizan Hashmi Published April 08, 2019 | 07:46 PM

VIS Credit Rating Company Limited has assigned initial entity ratings of triple B Plus/A-Two to Security Investment Bank Limited

KARACHI, (UrduPoint / Pakistan Point News - 8th Apr, 2019 ) :VIS Credit Rating Company Limited has assigned initial entity ratings of triple B Plus/A-Two to Security Investment Bank Limited. The long-term rating of "BBB+" signifies adequate credit quality and the protection factors are reasonable and sufficient.

The risk factors are considered variable if changes occur in the economy. The short term rating of "A-2" signifies good certainty of timely payment.

Liquidity factors and company fundamentals are sound. Access to capital markets is good. Risk factors are small. Outlook on the assigned ratings is stable, said a press release on Monday.

Set up in 1991, SIBL operates as a non-deposit taking Non-Banking Finance Company providing both funded and non-funded facilities and advisory services to clients. SIBL now plans to operate as a deposit taking NBFC and has applied to the Securities and Exchange Commission of Pakistan for this purpose.