VIS Assigns Positive Outlook To MQR Of ABL-AMCL

VIS Credit Rating Company Limited has maintained the management quality rating of ABL Assets Management Company at AM-Two-double plus.The medium to long-term rating of 'AM2++' exhibits very good management characteristics

KARACHI, (UrduPoint / Pakistan Point News - 1st Jan, 2021 ):VIS Credit Rating Company Limited has maintained the management quality rating of ABL Assets Management Company at AM-Two-double plus.The medium to long-term rating of 'AM2++' exhibits very good management characteristics. Outlook on the assigned rating has been revised from stable to positive.

The previous rating action was announced on Dec.31, 2019, said release on Friday.

The assigned rating derives strength from continuity in strong sponsor profile, adequate control functions, and sound governance framework as reflected by professional management team, satisfactory board oversight along with a comprehensive risk management and control framework.

The rating incorporates slight increase in market share of the company. However, growth largely remains manifested in corporate portfolio.

The rating draws comfort from the company's focus towards marketing collaboration with parent bank, expansion of geographic footprint in the South, strengthening and strategic allocation of sales force, enhancement of customer base through digital initiatives, and establishmentof Islamic Dedicated Saving Centers.