ISSUE / ISSUER MEDIUM TO OUTLOOK
SHORT
LONG TERM TERM
Entity Ratings
AlBaraka Islamic Bank BSC - Pakistan
Branches A Stable A-1
Al Meezan Investment Management Ltd.
A Stable A-2
Al Noor Sugar Mills Ltd BBB+ Stable
A-2
Al-Zamin Leasing Corporation
Ltd. BBB+ Stable A-2
Al-Zamin Leasing Modaraba A- Stable
A-2
Arif Habib Bank Ltd. A Stable A-2
Arif Habib Securities Ltd. AA Stable
A-1
Asian Housing Finance Ltd. BB+
Negative B
Atlas Bank Ltd. A- Stable A-2
B.R.R. Guardian Modaraba A Stable A-2
Century Paper & Board Mills Ltd.
A- Stable A-2
Crescent Commercial Bank Ltd. A
Stable A-1
Crescent Steel & Allied Products
Ltd. A+ Stable A-1
Dawood Islamic Bank Ltd. A- Stable
A-2
Dubai Islamic Bank Pakistan Ltd. A
Stable A-2
Escorts Investment Bank Ltd. A Stable
A-1
Faysal Bank Ltd. AA Stable A-1+
First Al-Noor Modaraba BBB Stable A-3
First Credit & Investment Bank
Ltd. BBB+ Stable A-2
First Habib Bank Modaraba AA- Stable
A-1+
First National Bank Modaraba A+
Stable A-1
First Paramount Modaraba BBB- Stable
A-3
Gharibwal Cement Ltd. BBB Stable A-3
Grays Leasing Ltd. BBB+ Negative A-2
Habib Bank Ltd. AA+ Stable A-1+
Indus Dyeing and Manufacturing Co
Ltd. A Stable A-2
Invest Capital Investment Bank Ltd.
A- Positive A-2
Ittehad Chemicals Ltd. A- Stable A-2
Jamshoro Joint Venture Ltd. A+ Stable
A-1
Javed Omer Vohra & Company Ltd.
BBB- Stable A-3
JDW Sugar Mills Limited A- Stable A-2
KASB Modarba BBB Stable A-3
KASHF Foundation BBB+ Stable A-3
Khushhali Bank Ltd. A- Stable A-1
Kunjah Textile Mills Ltd. BBB Stable
A-3
Meezan Bank Ltd. A+ Stable A-1
National Bank of Pakistan. AAA
Stable A-1+
National Foods Ltd A+ Stable A-2
NBP Capital Ltd. A Stable A-1
Oil and Gas Development Company Ltd.
AAA Stable A-1+
Oman Intl Bank SAOG - Pakistan
Branches BBB Stable A-2
Orient Petroleum Intl. Inc. -
Pakistan Branch A Stable A-1
ORIX Leasing Pakistan Ltd. (Public
Inf Rating) AA(p) -- --
Pakarab Fertilizers (Pvt) Ltd. AA-
Stable A-1
Pak Gulf Leasing Company Ltd. BBB-
Stable A-3
Pak Oman Investmant Company Ltd. AA+
Stable A-1+
Pak Oman Microfinance Bank Ltd. BBB+
Negative A-3
Pakistan International Container
Terminal Ltd. A- Stable A-2
Pakistan Kuwait Investment Co. (Pvt.)
Ltd. AAA Stable A-1+
Pakistan Security Printing
Corporation (Pvt.) Ltd AAA Stable A-1+
Reliance Weaving Mills
Ltd.
BBB+ Stable A-3
Rozgar Microfinance Bank Ltd. BB+
Negative A-3
Sadaqat Textile Mills (Pvt) Ltd. BBB+
Stable A-3
Saif Textile Mills
Ltd.
BBB+ Stable A-3
Sapphire Textile Mills Ltd. A Stable
A-2
Saudi Pak Commercial Bank Ltd.
A- Stable A-3
Saudi Pak Ind & Agricultural Inv
Co (Pvt.) Ltd AA+ Stable A-1+
Saudi Pak Leasing Company Ltd. A-
Stable A-2
Searle Pakistan Ltd. BBB Rating Watch
- Developing A-3
Security Investment Bank
Ltd. A
Stable A-1
Security Leasing Corporation Ltd. A-
Stable A-2
Security Papers Ltd. AAA Stable A-1+
Shahmurad Sugar Mills Ltd. BBB Stable
A-2
Sigma Leasing Corporation Ltd. A-
Stable A-2
SME Bank Ltd. BBB Rating Watch -
Developing A-3
SME Leasing Ltd. A- Stable A-2
Standard Chartered Bank (Pakistan)
Ltd. AA+ Stable A-1+
Standard Chartered Leasing Ltd.
(Public Inf Rating) A(p) -- --
Standard Construction Co (Pvt) Ltd.
A- Rating Watch - Developing A-2
Tameer Micro Finance Bank Ltd. A-
Negative A-3
Tauras Securities Ltd. A- Negative
A-2
The Bank of Khyber. BBB+ Stable A-2
The First Micro FinanceBank Ltd
A+ Stable A-1
The Punjab Provincial Co-operative
Bank Ltd. BB+ Rating Watch - Developing B
United Bank
Ltd. AA+
Stable A-1+
Wateen Telecom (Pvt) Ltd. A Positive
A-1
Zarai Taraqiati Bank Ltd.
AAA/(B+)* Stable/(Stable)* A-1+/(B)*
"* The ratings in parantheses
show the standalone ratings assigned by JCR-VIS, without
incorporating the effect of the sovereign guarantee, as
laid out in the Banks Nationalization Act of 1974."
Insurer Financial Strength Ratings
ACE Insurance Ltd. A+ Stable --
Alpha Insurance Co. Ltd. A- Stable --
Capital Insurance Company Ltd. BB+
Negative --
Central Insurance Company Ltd. A
Stable --
Century Insurance Company Ltd. A
Stable --
East West Insurance Co. Ltd. A-
Stable --
EFU General Insurance Ltd. AA Stable
--
EFU Life Assurance Ltd. AA- Stable --
Excel Insurance Company Ltd. BBB-
Stable --
National Insurance Company Ltd. AA+
Stable --
New Jubilee Insurance Company Ltd. AA
Stable --
PICIC Insurance Ltd. A- Negative --
Premier Insurance Company of Pakistan
Ltd. A Stable --
Reliance Insurance Company Ltd. A-
Positive --
Saudi Pak Insurance Company Ltd. BBB+
Positive --
Security General Insurance Company
Ltd. A Stable --
Silver Star Insurance Company Ltd.
BBB+ Stable --
Takaful Pakistan Ltd. A- Stable --
The Cooperative Insurance Soc of Pak
Ltd C Stable --
The Crescent Star Insurance Co. Ltd.
BBB Positive --
The Pakistan General Insurance Co.
Ltd BB+ Positive --
The Universal Insurance Company Ltd.
A- Stable --
UBL Insurers Ltd. A- Stable --
TFC Ratings Maturity
Allied Bank Ltd. Dec 2014 A+ Stable
--
Allied Bank Ltd. (**) A+ Stable --
Al-Zamin Leasing Corporation Ltd.
Perpetual A- Stable --
Al-Zamin Leasing Corporation Ltd. Jul
2008 A- Stable --
Al-Zamin Leasing Corporation Ltd.
(**) A- Stable --
Al-Zamin Leasing Modaraba Dec 2008 A
Stable --
Al-Zamin Leasing Modaraba Nov 2010 A
Stable --
Amtex Ltd. Oct 2012 A Stable --
Avari Hotel Ltd. Nov 2014 A- Stable
--
B. R. R. Guardian Modaraba (**) A+
Stable --
Century Paper & Board Mills Ltd.
Sep 2014 AA- Stable --
Crescent Steel & Allied Products
Ltd. Jan 2009 AA- Stable --
Eden Housing Limited Dec 2012 A
Stable --
Eden Housing Limited Mar 2013 A
Stable --
Escorts Investment Bank Ltd. Aug 2011
A+ Stable --
Faysal Bank Ltd. Nov 2014 AA- Stable
--
Gharibwal Cement Ltd. Jan 2013 A-
Stable --
Grays Leasing Ltd. (**) A- Negative
--
JDW Sugar Mills Ltd. (**) A Stable --
KASHF Foundation Jul 2010 A Stable --
New Allied Electronics Industries (Pvt)
Ltd. May 2011 A- Stable --
New Allied Electronics Industries (Pvt)
Ltd. Jul 2012 A- Stable --
New Allied Electronics Industries (Pvt)
Ltd. Nov 2012 A Stable --
Pakarab Fertilizers Ltd Feb 2013 AA
Stable --
Pakistan Services Ltd. Nov 2008 A
Stable --
Quetta Textile Mills Ltd. (**) A-
Stable --
Sadaqat Textile Mills (Pvt) Ltd. (**)
A- Stable --
Saudi Pak Leasing Company Ltd. (**) A
Stable --
Searle Pakistan Ltd Mar 2011 A-
Rating Watch - Developing --
Shahmurad Sugar Mills Ltd Sep 2012 A-
Stable --
Standard Chartered Bank (Pakistan)
Ltd Dec 2012 AA Stable --
Standard Chartered Bank (Pakistan)
Ltd Feb 2013 AA Stable --
Telecard Ltd May 2011 BBB Rating
Watch --
United Bank Ltd. Aug 2012 AA Stable
--
United Bank Ltd. Mar 2013 AA Stable
--
United Bank Ltd. Sep 2014 AA Stable
--
United Bank Ltd. Dec 2016 AA Stable
--
** These are preliminary/final
ratings. The TFCs have not yet been issued.
Secured Debt Maturity
Standard Construction Co (Pvt) Ltd.
(***) A- Rating Watch - Developing --
*** This is a preliminary rating. The
debt has not yet been issued.
Securitization Ratings Maturity
Jamshoro Joint Venture Ltd. Mar 2010
AA- Stable --
Naimat Basal Oil & Gas
Securitisation Co Ltd Apr 2010 A+ Stable --
Mutual Fund Ratings
AKD Investment Management Ltd. (Mgmt
Quality) AM3+ -- --
Al-Meezan Investment Management Ltd.
(Mgmt Quality) AM2 -- --
AMZ Asset Management Ltd. (Mgmt
Quality) AM3+ -- --
BMA Asset Management Co. Ltd. (Mgmt
Quality) AM2- -- --
Crosby Asset Management (Pakistan)
Ltd. (Mgmt Quality) AM4- -- --
Faysal Asset Management Ltd. (Mgmt
Quality) AM3+ -- --
HBL Asset Management Ltd. (Mgmt
Quality) AM3 -- --
National Asset Management Company
Ltd. (Mgmt Quality) AM3- -- --
National Fullerton Asset Management
Ltd. (Mgmt Quality) AM2 -- --
National Investment Trust Ltd. (Mgmt
Quality) AM2 -- --
Pak Oman Asset Management Ltd. (Mgmt
Quality) AM3+ -- --
PICIC Asset Management Co. Ltd. (Mgmt
Quality) AM2 Rating Watch - Developing --
UBL Fund Managers Ltd (Mgmt Quality)
AM2- -- --
WE Investment Management Ltd. (Mgmt
Quality) AM4+ -- --
AKD Income Fund (Fund Stability)
A-(f) -- --
AMZ Plus Income Fund (Fund Stability)
A(f) -- --
Faysal Income & Growth Fund (Fund
Stability) A+(f) -- --
Faysal Savings Growth Fund (Fund
Stability) A(f) -- --
Meezan Islamic Income Fund (Fund
Stability) A(f) -- --
NAFA Cash fund (Fund Stability) A(f)
-- --
Pak Oman Advantage Fund (Fund
Stability) AA-(f) -- --
Pak Oman BOP Advantage Plus Fund
(Fund Stability) A(f) -- --
United Growth & Income Fund (Fund
Stability) A(f) -- --
United Money Market Fund (Fund
Stability) A+(f) -- --
Mutual Fund Performance Rankings One
Year Ranking Two Year Ranking
AKD Opportunity Fund MFR-3(s) -- --
Asian Stocks Fund Ltd. MFR-4(s)
MFR-2(s) --
Crosby Dragon Fund MFR-5(s) MFR-5(s)
--
Faysal Balanced Growth Fund MFR-4(s)
-- --
Golden Arrow Selected Stocks Fund
Ltd. MFR-4(s) MFR-5(s) --
Meezan Islamic Fund MFR-5(s) -- --
NAFA Cash Fund -- MFR-5(s) --
NAFA Multi Asset Fund MFR-5(s) -- --
NAFA Stock Fund MFR-5(s) -- --
National Investment Unit Trust
MFR-5(s) MFR-5(s) --
PICIC Growth Fund MFR-2(s) MFR-1(s)
--
PICIC Investment Fund MFR-2(s)
MFR-3(s) --
Safeway Mutual Fund Ltd. MFR-5(s)
MFR-2(s) --
United Stock Advantage Fund MFR-4(s)
-- --
Corportate Governance Ratings
Allied Bank Ltd. CGR-8 -- --
Pak Oman Investment Co. Ltd. CGR-9 --
--
Pakistan Kuwait Investment Co (Pvt.)
Ltd. CGR-8 -- --
Security Papers
Ltd.
CGR-8 -- --
The Citizens Foundation (NPO Gov
Rating) GR-8 -- --
Real Estate Developer Grading
Eden Housing Ltd. PE 1- -- --
