KARACHI, June 20: JCR-VIS Credit Rating Company has upgraded the ratings of United Bank Ltd. from single A plus to double A. Outlook on the ratings is stable, says a press release. It adds that the short-term ratings of the bank have been reaffirmed at A-One plus. “JCR-VIS believes that UBL’s privatization in 2002 has marked a successful transition for the bank which is now well-positioned to leverage its key strengths i.e. countrywide outreach and access to a large retail deposit base.”
