The Pakistan Credit Rating Agency Limited

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27-Jan-2012

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PACRA Insight

PACRA Insight is a medium to communicates with the users of ratings–harmonizing knowledge; assimilating expertis....in essence, leading the rating industry’s development along high standards of integrity and transparency.

Communication....reflecting upon issues....putting thoughts into ideas....deas into words....RATINGS INSIGHT–a medium to communicate with the users of ratings-is an endeavor undertaken by pacra to facilitate and harmonize the development of ratings business.....

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Entity	Industry	Rating Type	Dissemination Date	Long Term Rating	Short Term Rating	Outlook	Action	Press Release	Report
Trust Investment Bank Limited	Investment Bank	Entity	23-Jan-12	BBB-	A3	Negative	Downgrade	view	view
Trust Investment Bank Limited \|TFC III\| July-08	Investment Bank	TFC	23-Jan-12	BBB-		Negative	Downgrade	view	view
IGI Stock Fund	Mutual Fund	Fund Ranking	19-Jan-12		4-STAR	Stable	Initial	view	-
KASB Securities Limited	Brokerage/Security	Entity	17-Jan-12	A-	A2	Negative	Downgrade	view	view
KASB Securities Limited \|TFC\| Jun-07	Brokerage/Security	TFC	17-Jan-12	A		Negative	Downgrade	view	view
Pak Electron Limited	Engineering	Entity	16-Jan-12	D			Downgrade	view	-
Pak Electron Limited \|Sukuk I\| Sep-07	Engineering	TFC	16-Jan-12	D			Downgrade	view	-
Pak Electron Limited \|Sukuk II\| Mar-08	Engineering	TFC	16-Jan-12	D			Downgrade	view	-
Lal Pir Power Limited	Energy	Entity	13-Jan-12	AA	A1+	Stable	Maintain	view	-
Pak Gen Power Limited	Energy	Entity	13-Jan-12	AA	A1+	Stable	Maintain	view	-

Entities

Entity	Industry	Rating Type	Dissemination Date	Long Term Rating	Short Term Rating	Outlook	Action	Press Release	Report
Trust Investment Bank Limited	Investment Bank	Entity	23-Jan-12	BBB-	A3	Negative	Downgrade	view	view
KASB Securities Limited	Brokerage/Security	Entity	17-Jan-12	A-	A2	Negative	Downgrade	view	view
Pak Electron Limited	Engineering	Entity	16-Jan-12	D			Downgrade	view	-
Lal Pir Power Limited	Energy	Entity	13-Jan-12	AA	A1+	Stable	Maintain	view	-
Pak Gen Power Limited	Energy	Entity	13-Jan-12	AA	A1+	Stable	Maintain	view	-
Sapphire Electric Company Limited	Energy	Entity	11-Jan-12	AA-	A1+	Stable	Maintain	view	-
State Life Insurance Corporation of Pakistan	Insurance	IFS	09-Jan-12	AAA		Stable	Maintain	view	view
The United Insurance Company of Pakistan Limited	Insurance	IFS	06-Jan-12	A		Stable	Maintain	view	-
Kohinoor Energy Limited	Energy	Entity	06-Jan-12	AA	A1+	Stable	Initial	view	-
Shaheen Insurance Company Limited	Insurance	IFS	05-Jan-12	A-		Negative	Maintain	view	-

Instruments

Entity	Industry	Rating Type	Dissemination Date	Long Term Rating	Outlook	Action	Press Release	Report
Trust Investment Bank Limited \|TFC III\| July-08	Investment Bank	TFC	23-Jan-12	BBB-	Negative	Downgrade	view	view
KASB Securities Limited \|TFC\| Jun-07	Brokerage/Security	TFC	17-Jan-12	A	Negative	Downgrade	view	view
Pak Electron Limited \|Sukuk I\| Sep-07	Engineering	TFC	16-Jan-12	D		Downgrade	view	-
Pak Electron Limited \|Sukuk II\| Mar-08	Engineering	TFC	16-Jan-12	D		Downgrade	view	-
Askari Bank Limited \|TFC IV\| TBI	Banks	TFC	03-Jan-12	AA-	Stable	Initial	view	-
ORIX Leasing Pakistan Limited \|TFC I\| May-07	Leasing	TFC	30-Dec-11	AA+	Stable	Maintain	view	-
ORIX Leasing Pakistan Limited \|PP-TFC\| Jan-08	Leasing	TFC	30-Dec-11	AA+	Stable	Maintain	view	-
ORIX Leasing Pakistan Limited \|TFC II\| Jun-11	Leasing	TFC	30-Dec-11	AA+	Stable	Maintain	view	-
Shakarganj Mills Limited \|TFC\| Sep-08	Sugar	TFC	20-Dec-11	D		Withdraw	view	-
Al-Abbas Sugar Mills \|TFC\| Nov-07	Sugar	TFC	20-Dec-11	A+	Stable	Maintain	view	view

Asset Management

Entity	Industry	Rating Type	Dissemination Date	Long Term Rating	Outlook	Action	Press Release	Report
IGI Stock Fund	Equity Funds (Open -End)	Fund Ranking	19-Jan-12		Stable	Initial	view	-
Lakson Equity Fund	Equity Funds (Open -End)	Fund Ranking	28-Nov-11		Stable	Initial	view	-
MCB Asset Management Company Limited	Asset Management	AMR	28-Nov-11	AM2-		Withdraw	view	-
Arif Habib Investment Management Limited	Asset Management	AMR	28-Nov-11	AM2	Positive	Maintain	view	-
NAFA Stock Fund	Equity Funds (Open -End)	Fund Ranking	04-Nov-11	2-STAR	Stable	Initial	view	-
NAFA Islamic Multi Asset Fund	Islamic Asset Allocation	Fund Ranking	04-Nov-11	4-STAR	Stable	Initial	view	-
NAFA Multi Asset Fund	Balanced Funds	Fund Ranking	04-Nov-11	3-STAR	Stable	Initial	view	-
Alfalah GHP Value Fund	Asset Allocation Funds	Fund Ranking	31-Oct-11	4-STAR	Stable	Initial	view	-
Alfalah GHP Alpha Fund	Equity Funds (Open -End)	Fund Ranking	31-Oct-11		Stable	Initial	view	-
Alfalah GHP Islamic Fund	Islamic Equity Funds	Fund Ranking	31-Oct-11	4-STAR	Stable	Initial	view	-

Real Estate

Entity	Industry	Rating Type	Dissemination Date	Long Term Rating	Outlook	Action	Press Release	Report
Centrepoint Karachi	Real Estate	Project	08-Jul-11	PG3+	Stable	Maintain	view	view
Tricon Developers Limited	Real Estate	Developer	28-Jun-11	DG3		Withdraw	view	-
Eden Developers (Pvt.) Limited	Real Estate	Developer	04-May-11	DG3		Withdraw	-	-
Eden Builders Limited	Real Estate	Developer	04-May-11	DG3+		Withdraw	view	-

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Entities

Instruments

Asset Management

Real Estate

PACRA's Rating Resources --- Indepth

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