Entity Ratings of Allied Bank
Entity Ratings of Allied Bank by PACRA
The Pakistan Credit Rating Agency Limited (PACRA) has upgraded the long-term rating of Allied Bank to ‘AA+’ (Double A Plus). The short-term rating of the Bank is already at the highest level of ‘A1+’ (A One Plus).
The rating of TFC Issue of Rs. 3,000 million (Issue Date: August 28, 2009)has also been upgraded to ‘AA’ (Double A) by PACRA. The ratings denote very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.
Meanwhile, the rating of Bank’s earlier TFC Issue of Rs. 2,500 million (Issue Date: December 06, 2006) has also been upgraded to ‘AA’ (Double A) by JCR-VIS Credit Rating Company Limited (JCR-VIS).
Corporate Governance Rating by JCR-VIS
JCR-VIS has upgraded Your Bank’s Corporate Governance to ‘CGR-8++’ from ‘CGR- 8+’ assigned earlier. The rating denotes a high level of corporate governance. The rating action takes into consideration the continued commitment of the Board and Management of Allied Bank to maintain a sound governance framework.