20000315

Dawood Leasing

assigned

A- & A2 ratings

RECORDER REPORT

KARACHI: The Pakistan Credit Rating Agency has assigned 'A-' (single A minus) long-term and 'A2' short-term entity ratings to Dawood Leasing Company Ltd.

The assigned ratings denote a low expectation of credit risk and a strong capacity for timely payment of financial commitments. These ratings are applicable to the senior unsecured creditors of the company.

While assigning the ratings, Pacra has taken note of the improvement in Dawood Leasing's asset quality. The ratings also take into account the growth in the size of total assets as a consequence of the company's recent acquisitions. This provides opportunities for growth, diversification and higher returns without a significant increase in the company's risk exposure.