VIS Reaffirms Ratings Of Pak-Gulf Leasing Company Limited At A-/A-2

VIS Credit Rating Company Limited has reaffirmed the entity ratings of Pak-Gulf Leasing Company Limited at single A Minus/A-Two)

KARACHI, (UrduPoint / Pakistan Point News - 15th Apr, 2019 ) :VIS Credit Rating Company Limited has reaffirmed the entity ratings of Pak-Gulf Leasing Company Limited at single A Minus/A-Two). The long-term rating of "A" signifies good credit quality; protection factors are adequate.

Risk factors may vary with possible changes 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. The previous rating action was announced on January 30, 2018, said press release.

The assigned ratings take into account PGLC's adequate profitability, asset quality indicators and capitalization indicators. Ratings also incorporate the challenging operational environment for privately-sponsored leasing companies in particular, where competition with banks and limited access to capital constrain the opportunities for accelerated growth.