VIS Reaffirms ER Of Adam Securities Ltd
Fahad Shabbir (@FahadShabbir) Published September 21, 2021 | 05:10 PM
KARACHI, (UrduPoint / Pakistan Point News - 21st Sep, 2021 ) :VIS Credit Rating Company Limited has reaffirmed entity ratings of Adam Securities 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, said release on Tuesday.
The short-term rating of 'A-2' signifies good certainty timely payment. Liquidity factors and company fundamentals are sound. Access to capital markets is good. Risk factors are small. Previous rating action was announced on Sept.
17, 2020.
The assigned ratings incorporate ASL's market share in the brokerage industry, in combination with sound capitalization structure and adequate liquidity. In the outgoing year, the company witnessed strong growth in trading volumes, in tandem with the uptick noted across the industry.
ASL also posted some growth in its revenues from investment banking; nevertheless, the topline continues to feature significant reliance on brokerage commissions, and accordingly there remains room for improvement in the revenue diversification domain.
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