The Pakistan Credit Rating Agency Limited
20-Mar-18
Analyst
Ayesha Qasim
ayesha.qasim@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Non-Banking Finance Companies | Jan-17
- Methodology | Correlation between long-term and short-term rating scale | Jun-17
- Methodology | Criteria Modifiers | Jun-17
Related Research
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PACRA Withdraw Entity Ratings of IGI Investment Bank Limited
| Rating Type | Entity | |
|
Current (20-Mar-18 ) |
Previous (18-Dec-17 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | BBB- |
| Short Term | - | A3 |
| Outlook | Developing | |
| Rating Watch | - | - |
IGI Investment Bank Limited is fully amalgamated with and into IGI Insurance Limited. Honorable High Court of Sindh approved the amalgamation of IGI Investment Bank with and into IGI Insurance as on December 16, 2017. IGI Insurance published merged financial statements for 2016 with auditors' report thereon as January 04, 2018. Consequently, The Pakistan Credit Rating Agency Limited (PACRA) has withdrawn the entity ratings of IGI Investment Bank Limited (IGI IBL) [Long-term "BBB-" and short-term "A3"].
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