20000222

FPM assigned B-3

rating

RECORDER REPORT

KARACHI: DCR-VIS Credit Rating Agency has been assigned B-3 rating to First Paramount Modaraba (FPM).

According to the release of DCR-VIS, to be consistent with the State Bank of Pakistan's requirement, existing investment grade medium to long term entity rating of BBB (triple B minus) and short term entity rating of D-3 assigned by DCR-VIS earlier to First Paramount Modaraba have been combined and transformed to investment grade rating of B-3.

The B-3 means good credit quality, sound financial condition, protection factors are adequate. The DCR-VIS believes that this rating scale would go a long way for the development of credit rating culture in the country.