KARACHI, Oct 23: JCR-VIS credit rating company has decided to recommence the ratings of all modarabas on the conventional scale used for credit rating of all other entities rather than rating them on the separate modaraba scale.

“The rating agency believes that this move is in the best interest of the modaraba sector for a variety of reasons including comparability with other sectors and availability of short-term ratings etc.,” says a press release. In this context the medium to long-term entity rating of Al-Zamin Leasing Modaraba has been harmonized to triple B from B-3. In addition a short-term rating of A-3 has been assigned to the institution. “Outlook on these ratings is stable.”

Similarly the medium to long-term entity rating of First Paramount Modaraba has been harmonized to triple B from B-3. In addition a short-term rating of A-3 has been assigned to the institution. “Outlook on these ratings is stable.”