LAHORE, July 3: Pakistan Credit Rating Agency has maintained the long-term rating of “AA-” (double A minus) and a short-term rating of “A1+” (single A one plus) for Soneri Bank Ltd (SBL).

The ratings denote a very low expectation of credit risk emanating from the very strong capacity for timely payment of financial commitments, said a Pacra announcement here on Wednesday.

The ratings are applicable to senior unsecured creditors of the bank.

While maintaining the ratings, Pacra has taken cognizance of the bank’s strong risk absorption capacity emanating from a sound capital structure, increased capital adequacy ratio (CAR), improved performance and the continuing low proportion of NPAs, the announcement said.